Restaurant Brands Asia shares climb 3% as company mulls raising funds via QIP

“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 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 or statutory approvals as may be required, including approval of the shareholders of the Company,” it said in a regulatory filing dare December 17.

During the meeting, the board will also consider arranging a postal ballot process or an extraordinary general meeting (EGM) to seek shareholder approval regarding the previously mentioned fundraising proposal, the company added.

The stock was trading at ₹81 at around 12:28 pm, down 1.34% on the National Stock Exchange as the domestic equity market again slipped into negative territory.

The Indian Burger King franchisee reported a 30.71% widening of its quarter-two loss, as it expanded to ₹60.17 crore in Q2 of the current fiscal from ₹46.03 crore in the year-ago period. This came against the backdrop of sluggish demand as consumers cut back on their voluntary spending due to inflationary pressures.

The scrip gained 0.52% in the past month, however, it has fallen 28.90% year-to-date.

As of December 18, the company had a market cap of ₹4,097.61 crore, according to the NSE.