Restaurant Brands Asia to Consider Fundraising Via QIPs

Restaurant Brands Asia, the India franchisee of Burger King, announced on Tuesday, December 17, that its board of directors will convene on Friday, December 20, 2024, to discuss a proposal for raising funds. The company is exploring multiple fundraising options, including a preferential issue, qualified institutional placement (QIP), or other methods permitted under regulatory frameworks.

Following the announcement, share price of Restaurant Brand Asia jumped 2.94% to hit an intra-day high of ₹84.56 on BSE at 9:28 AM (IST) on Wednesday, December 18, 2024.

Fundraising Plan

In a regulatory filing, Restaurant Brand Asia stated, “We wish to inform you that a meeting of the Board of Directors of Restaurant Brands Asia Limited will be held on Friday, December 20, 2024, to consider, inter alia, a proposal for raising of funds through any or all of various methods including by way of preferential issue, qualified institutions placement or any other method as may be permissible, subject to such regulatory/statutory approvals as may be required, including approval of the shareholders of the company”

The board will also deliberate on initiating processes to secure shareholder approval for the fundraising plan, which could involve convening an extraordinary general meeting (EGM) or conducting a postal ballot.

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