KEY POINTS
- Thai Packaging Industry pcl (TIPAK), a one-stop service developer and manufacturer of kraft paper-based packaging products with over 50 years of experience, will start trading on SET in the Industrials industry group on October 5, 2026.
Thai Packaging Industry pcl will be listed and will start trading on the Stock Exchange of Thailand (SET) in the Industrials industry group, Packaging sector, under the ticker symbol “TIPAK” on October 5, 2026.
TIPAK is a one-stop service provider of kraft paper-based packaging, with over 50 years of experience and expertise in developing, manufacturing, and distributing corrugated paper products. Its core products are corrugated sheets and boxes, made-to-order for structure, strength, and flute profiles, serving clients across diverse industries, including electrical appliances, food and beverage, agricultural products, and e-commerce, with focus on enhancing value and creating a unique brand identity for their clients. The company has an annual production capacity of over 140,000 tons of corrugated paper and over 170 million boxes. TIPAK also places strong emphasis on environmental impact management and reducing greenhouse gas emissions by working with clients to calculate each product’s carbon footprint, using the data to make packaging designs and production more efficient and environment-friendly, reflecting its commitment to and support for sustainable business growth.
SET Senior Executive Vice President Soravis Krairiksh said that SET welcomes TIPAK to list and commence trading on SET. The key objectives of the fundraising are to enhance production efficiency, strengthen the financial position, and boost competitive capabilities, driving sustainable business growth and generating favorable returns for shareholders.
TIPAK Chief Executive Officer Weerachai Mansinthorn said that TIPAK values the listing on SET and is confident that this strategic move will serve as a driving force for the company to become a leader in the paper packaging and corrugated box industry, with a focus on continuous product innovation. The fundraising will strengthen the company’s financial position, enable the enhancement and development of machinery and equipment, and boost production efficiency. The remaining funds will be used to repay loans to financial institutions, reduce financial costs, increase operational liquidity, support future growth opportunities, and provide working capital. TIPAK is committed to generating stable, long-term returns for its shareholders.
Securities offering data:
- Paid-up capital after IPO: THB 552 million, par value THB 1.00 per share
- Shares offered: 143.68 million newly issued ordinary shares at THB 1.85 per share, offered to subscribers at the underwriters’ discretion, the company’s patrons, directors, executives, employees, and related persons, during September 25, and 28-29, 2026
- Total IPO value: THB 266 million; market capitalization at IPO price: THB 1,021 million
- P/E ratio: 6.38 times, based on trailing four-quarter net profit (July 1, 2025 to June 30, 2026), equivalent to an EPS of THB 0.21 per share (Fully Diluted)
- Financial advisor: Maybank Securities (Thailand) pcl
- Lead underwriters: Maybank Securities (Thailand) pcl and Land and Houses Securities pcl
Major shareholders after IPO:
- Mansinthorn family 39.90 percent
- Thai VPC Business Co., Ltd. 34.07 percent
TIPAK’s dividend payment policy is to pay shareholders no less than 50 percent of net profit after corporate income tax and all legally mandated reserves specified by laws, taking into consideration various factors primarily for the benefit of the business and shareholders.
