The fast food operator, which mandated leads for the listing last October, was initially scheduled to hit screens within the first half of 2017 and before Lotte Chemical Titan’s MR3.8bn debut this week.
QSR is still in the pre-IPO phase and needs to work through some issues related to franchising, said a banker close to the matter. The issuer had tapped Citi, Credit Suisse and Maybank as left leads for the MR1.5bn-MR2.0bn fundraising. CIMB and RHB are also bookrunners.
The transaction will be a re-listing for QSR, which manages KFC and Pizza Hut outlets in southeast Asia, after it was taken private in 2013. The consortium that backed the take-private includes private equity firm CVC and state-owned Employees Provident Fund Board and Johor Corp.
QSR is the largest fast food operator in Malaysia and the second largest in Singapore through its KFC and Pizza Hut brands, according to its website. It is the sole KFC franchisee in Brunei, Cambodia, Malaysia and Singapore, and has close to 1,000 outlets throughout south and southeast Asia.