Restaurant Brands Asia shares in focus as board to consider raising of funds

Shares of Restaurant Brands Asia Ltd are in focus today after the firm said its board is set to meet next week to consider raising of funds. Restaurant Brands Asia operates Burger King and Popeyes in India. Restaurant Brands Asia shares ended 2.22% higher at Rs 69.02 on Wednesday against the previous close of Rs 67.52 on BSE. Market cap of the firm stood at Rs 4022 crore. 

The company said that its board is scheduled to meet on January 20 to consider and evaluate fund raise via issue of one or more instruments/securities including equity shares, warrants or any other convertible or exchangeable securities or debt securities, or a combination of the same.

The same will be via a preferential issue on a private placement basis, rights issue, qualified institutional placement or any other methods or combination as may be considered appropriate, it added.

The fund raise will be subject to approval of the company members and other regulatory and statutory approvals, as applicable.

The Board would also consider convening an extra-ordinary general meeting to seek approval of the
members of the Company in respect of the aforesaid proposal of fund raising, as may be required, the firm said.