The Economic Times daily newspaper is available online now.

    Restaurant Brands Asia shares rally 3% as co to consider fundraising through QIP

    Synopsis

    Restaurant Brands Asia shares rose 3% after announcing a board meeting on December 20 to discuss raising funds through preferential issue, QIP, or other methods, with shareholder approval sought.

    Restaurant Brands Asia shares rally 3% as co to consider fundraising through QIPReuters
    Shares of Burger King-operator Restaurant Brands Asia (RBA) today rose 3% to their day’s high of Rs 84.56 on the BSE after the company announced that its board will meet on Friday to consider raising of funds via a preferential issue, qualified institutions placement (QIP) or other methods.

    “Pursuant to Regulation 29(1)(d) of the SEBI Listing Regulations, we wish to inform you that a meeting of the Board of Directors (the “Board”) of Restaurant Brands Asia Limited (the "Company") will be held on Friday, December 20, 2024 to consider, inter alia, 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,” said the company in its exchange filing on December 17.

    The company also informed that it will also consider convening an extraordinary general meeting/postal ballot process to seek the approval of the shareholders for the matter concerning the fundraise.

    As of now, no other updates have been posted by the company.

    Also read: Ambuja Cements shares jump over 1% as Adani Group merges Sanghi Industries, Penna Cement

    Growfast
      Restaurant Brands International (RBI), the parent company of RBA, is one of the world's largest quick-service restaurant companies with over $40 billion in annual system-wide sales and over 30,000 restaurants in more than 120 countries and territories.

      RBI owns four of the world's most prominent and iconic quick service restaurant brands – Tim Hortons, Burger King, Popeyes, and Firehouse Subs.

      The shares of RBA have declined by 27% in the last one year and by 28.5% on a year-to-date basis. Even in the shorter term, the stock has given negative returns of nearly 24% in the last 6 months and 3 months respectively.

      (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)


      (You can now subscribe to our ETMarkets WhatsApp channel)

      (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

      Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

      Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

      ...more
      The Economic Times

      Stories you might be interested in