Malaysia’s largest fast food operator QSR Brands plans to relist on the local stock market next year through an initial public offering (IPO) worth over $400 million, IFR reported on Friday citing sources.
QSR operates and manages the Kentucky Fried Chicken (KFC) and Pizza Hut restaurant franchises in Malaysia. It is the sole KFC franchisee in Malaysia, Singapore, Brunei and Cambodia.
In 2013, the company was taken private by a consortium of private equity firm CVC Capital Partners Ltd [CVC.UL] and Malaysia’s largest pension fund – the Employees Provident Fund – in partnership with the investment arm of Malaysia’s Johor state, Johor Corp [JOHOR.UL].
Banks have not yet been hired for the IPO, the final size of which has not been decided, reported IFR, a Thomson Reuters publication.
Reuters could not immediately reach QSR for comment.