QSR Brands reportedly eyes pitches for Malaysia IPO valued at RM6bn

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QSR Brands, the Southeast Asian franchisor of KFC and Pizza Hut, has reportedly contacted banks for proposals for a potential initial public offering (IPO) in Malaysia, Bloomberg said quoting its sources. QSR Brands is reportedly eyeing a market valuation of RM6 billion in a deal and is considering bringing back a share sale it attempted two years ago, Bloomberg added.

According to Bloomberg, QSR Brands' owners, which include Johor Corp and Employees Provident Fund, previously contemplated divesting their stakes in 2019 after the company dropped its RM2.5 billion IPO earlier that year. The franchisor has the sole right from Yum! Brands to operate KFC and Pizza Hut restaurants in Singapore, Malaysia, Brunei and Cambodia. According to its website, QSR Brands has more than 850 KFC restaurants in Malaysia, Singapore, Brunei and Cambodia more than 495 Pizza Hut restaurants in Malaysia and Singapore. Headquartered in Malaysia, it has over 35,000 employees across the four countries. A+M has reached out to QSR Brands for comment.

Last week, The Edge Markets reported that Johor Corp revived relisting plans for QSR Brands and has allegedly appointed Maybank Investment Bank and RHB Investment Bank as its IPO advisers. The recent move by Johor Corp comes as it undergoes a group-wide restructuring, which comprises a "full-scale review" of its current business ventures.

Separately, QSR Brands have been seeking ways to improve accessibility for customers in Malaysia. Last year, it partnered GrabFood to further boost revenue growth and support its customer-centric strategy of channel expansion and greater accessibility. The partnership came shortly after the implementation of the Conditional Movement Control Order in some states, and with more Malaysians remaining at home.

Photo courtesy: 123RF

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