April 15, 2019
QSR Brands has shelved plans for an IPO that could have raised as much as USD 370 million as potential local investors balked at its valuations. The sole KFC restaurants franchise operator in Malaysia, Singapore, Brunei and Cambodia had marketed the IPO in the last few weeks. The roughly 25 times forward earnings multiple being pitched was deemed steep while sluggish markets also impacted the offering. The company’s weak first-quarter results following a price increase also was a concern to some investors.