“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.
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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.
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