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Restaurant Brands to seek ASX dual-listing

KFC,YUM BrandsFast food retailer Restaurant Brands announced plans to dual-list on the Australian Stock Exchange by the end of September.

The company announced ahead of its  annual shareholders’ meeting this morning that it would be seeking a foreign-exempt listing on the ASX this month with a view to the company being dual-listed by the end of September.

The company has expanded into Australia and Hawaii in the past 12 months, and in March changed its corporate structure, splitting into three regional operating divisions.

The company now reports to shareholders from three geographically separate operating divisions: New Zealand, where it runs KFC, Pizza Hut, Carl’s Jr and Starbucks Coffee; Hawaii, where it operates 82 Taco Bell and Pizza Hut stores; and Australia where it operates 42 KFC outlets in New South Wales.

Restaurant Brands also reported its fourth quarter sales in March. They rose 37 per cent to $121.6 million, bolstered by gains from its Australian KFC stores. The quarterly gain lifted annual sales 28 per cent to $497.2 million.

The shares last traded at $5.96, up 17 per cent in the past year.

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