Malaysian KFC operator said to choose banks for US$500 mil IPO

KUALA LUMPUR (Nov 1): QSR Brands (M) Holdings Sdn, which operates KFC and Pizza Hut restaurants in Southeast Asia, picked banks to arrange a Malaysian initial public offering next year that could raise about US$500 million ($696 million), people with knowledge of the matter said.

QSR Brands chose Citigroup Inc, Credit Suisse Group AG and Malayan Banking Bhd to lead the offering, according to the people. The company, which is backed by CVC Capital Partners and Malaysia's largest pension fund, also selected CIMB Group Holdings Bhd. and RHB Bank Bhd. to work on the share sale, the people said, asking not to be identified because the details are private.

The Kuala Lumpur-based company is seeking a listing after first-time share sales in the country raised just US$270 million this year, the lowest level for any comparable period since 2009, data compiled by Bloomberg show. It joins developer Eco World International Bhd, which said last week it plans to seek more than US$476 million in a Malaysian IPO.

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