KFC Malaysia operator QSR Brands weighs IPO revival: report
The company is seeking a market valuation of US$1.4 billion.
QSR Brands (M) Holdings Bhd., the operator of KFC and Pizza Hut restaurants in Southeast Asia, has reportedly asked banks to submit proposals for a potential initial public offering in Malaysia.
Citing people familiar with the matter, Bloomberg reported that the Kuala Lumpur-based company, which is backed by private equity firm CVC Capital Partners, is considering reviving a share sale after initially attempting in 2019.
The fast food operator is seeking a market valuation of 6 billion ringgit ($1.4 billion).
QSR Brands holds the rights to operate KFC restaurants in Malaysia, Singapore, Cambodia and Brunei, as well as Pizza Hut restaurants in Malaysia and Singapore. It currently operates over 1,270 KFC and Pizza Hut outlets.
Recently, Sapphire Foods, which operates KFC and Pizza Hut in the Indian subcontinent, filed draft papers with capital markets regulator Sebi to raise funds through an IPO. Devyani International, the other Yum! franchisee in the country, also debuted on the local stock exchange this month.
