QSR Malaysia's fast food giant QSR revives IPO plan: report

[KUALA LUMPUR] Malaysian fast food restaurant business QSR Brands (M) Holdings Bhd has revived plans for an initial public offering that could be worth hundreds of millions of dollars, The Edge Weekly reported on Saturday, citing unidentified sources.

Johor Corp, the controlling shareholder in QSR, which operates KFC and Pizza Hut franchises in Malaysia, has engaged Maybank Investment Bank and RHB Investment Bank as advisors, the business weekly said.

QSR, Malaysia's largest fast food chain operator, was delisted in 2013 and attempted to relist in 2019, after several delays, to raise around RM2 billion (S$642 million). The plan was shelved after investors deemed its valuation too lofty.

QSR and Johor Corp did not immediately respond to requests for comment outside of normal working hours.

REUTERS