KFC Malaysia operator QSR Brands picks banks for IPO: report
At US$500 million, the IPO would be the country’s biggest since 2017.
QSR Brands (M) Holdings Bhd., the operator of KFC and Pizza Hut restaurants in Malaysia and Singapore and other Southeast Asian markets, has chosen banks to arrange a potential initial public offering that could be Malaysia’s biggest first-time share sale in four years.
Citing people familiar with the matter, Bloomberg reported that the Kuala Lumpur-based company picked CIMB Group Holdings Bhd. and Citigroup Inc., Credit Suisse Group AG and UBS Group AG.
Deliberations are ongoing and the size and timing of the IPO could still change, Bloomberg’s sources added.
The operator, which is backed by private equity firm CVC Capital Partners, is seeking a valuation of more than 6 billion ringgit (US$1.4 billion) and aims to raise as much as US$500 million.