QSR Brands seeks pitches for Malaysia IPO at $1.4 billion value
Published 16 Aug,2021 via Bloomberg Markets - QSR Brands (M) Holdings Bhd., which runs KFC and Pizza Hut restaurants in Southeast Asia, has asked banks to submit proposals for a potential Malaysia initial public offering, according to people familiar with the matter.
The Kuala Lumpur-based company, which is backed by private equity firm CVC Capital Partners, is considering reviving a share sale after an attempt in 2019, the people said. It is seeking a market valuation of 6 billion ringgit ($1.4 billion) in a deal, said the people, who asked not to be identified as the information is private.
The fast food operator is exploring an IPO after seeing strong demand for MR D.I.Y. Group (M) Bhd. and Ctos Digital Bhd.’s first-time share sales, according to one of the people. Malaysia has hosted about $411 million of IPOs so far this year, up from around $71 million for the same period in 2020, according to data compiled by Bloomberg.
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Elffie Chew and Yantoultra Ngui