QSR Brands considering IPO
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Malaysian fast-food group QSR Brands is mulling an IPO to raise around MR2 billion (US$509.6 million).
QSR Brands operates the KFC and Pizza Hut restaurant franchises in Malaysia and is part owned by private equity firm CVC Capital Partners, which is looking to exit the business.
Shareholder Johor Corp president/CEO Kamaruzzaman Abu Kassim says it would like to see this happen no later than November. Johor Corp is the investment arm of Malaysia’s Johor state.
The listing would be the largest IPO in Malaysia since integrated petrochemical producer Lotte Chemical Titan Holding raised $878 million last July. The move has been planned since 2016, reports Reuters, with the company hiring Citigroup, Credit Suisse and another bank to lead the exercise.
The estimated market capitalisation of QSR would be about MR6 billion after listing, Kamaruzzaman says. “Further details will have to be worked out with various parties.”
The QSR Brands IPO was part of an “exit plan” for CVC and fellow investor the Employees Provident Fund when QSR was privatised in 2013.
Questions & Answers
Q.Which restaurant franchises does QSR Brands operate in Malaysia?
Which restaurant franchises does QSR Brands operate in Malaysia?
QSR Brands operates the KFC and Pizza Hut restaurant franchises within Malaysia. The company is a Malaysian fast-food group, and its potential IPO is being driven in part by a private equity firm seeking an exit.
Q.Who is currently a part-owner of QSR Brands?
Who is currently a part-owner of QSR Brands?
Private equity firm CVC Capital Partners is a part-owner of QSR Brands. They are looking to exit the business, which is a key reason for the proposed Initial Public Offering by the Malaysian fast-food group.
Q.What is the estimated market capitalisation of QSR Brands after listing?
What is the estimated market capitalisation of QSR Brands after listing?
The estimated market capitalisation of QSR Brands after listing is approximately MR6 billion. This figure was provided by Kamaruzzaman Abu Kassim, president and CEO of shareholder Johor Corp.
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