TIPAK sets IPO price at 1.85 baht, set to trade on SET this October

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Thai Packaging Industry Public Company Limited, or TIPAK, a leader in the manufacture and distribution of kraft paper packaging, has set the price for its initial public offering at 1.85 baht per share, for no more than 143.68 million shares, representing no more than 26.03% of the issued and paid-up ordinary shares after the IPO. Investors may subscribe on September 25 and September 28-29, 2026, and the company is expected to list and begin trading on the Stock Exchange of Thailand this October. Chief Executive Officer Weerachai Munsinthorn said the company has more than 50 years of experience in the packaging industry and operates two main businesses: corrugated paper sheets and corrugated paper boxes. Chief Financial Officer Noparat Munsinthorn disclosed that for 2023 to 2025 the company reported total revenue of 2.83 billion baht, 2.74 billion baht and 2.54 billion baht respectively, with net profit of 191.93 million baht, 170.21 million baht and 121.18 million baht respectively. More than 60% of revenue came from corrugated paper boxes. As of June 30, 2026, the company had total production capacity of more than 140,000 tonnes per year of corrugated paper sheets and more than 170 million corrugated paper boxes per year. For its 2027 investment plan, the company has budgeted approximately 100 million baht to upgrade and develop machinery and equipment at its plants in Samut Sakhon and Prachin Buri provinces. Proceeds from the fundraising will be used to invest in upgrading and developing machinery and equipment, improve production efficiency, repay loans to financial institutions and serve as working capital. Maybank Securities (Thailand) is the financial advisor and joint lead underwriter for this offering, together with three joint underwriters: KGI Securities (Thailand), Liberator Securities and Aira Securities.

Impact on assets 3

Financials▲ · 3 stocks

Off-coverage companies 2

TIPAK (Thai Packaging Industry)Private▲ Positive
Capitalrelevance

TIPAK sets its IPO price at 1.85 baht per share and expects to list on the SET in October

Liberator Securities Co., Ltd.Private± Mixed
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