Restaurant Brands Asia Limited approves investment in PT Sari Burger Indonesia

The Borrowings, Investments, Loans and Finance Committee of the Board of Directors of Restaurant Brands Asia Limited ('the Company'), at its meeting held today i.e. on Wednesday, June 19, 2024 ('said meeting'), considered and approved investment in PT Sari Burger Indonesia ('BK Indonesia'), subsidiary of the Company, by way of subscription of redeemable cumulative non-convertible preference shares of an amount of IDR 40,00,00,00,000 (Forty Billion Indonesia Rupiah) equivalent to INR.

BK Indonesia is in the business of food services and quick service restaurants including delivery, catering, franchise operations under the trademark of "Burger King" and other related business in Indonesia.

The proceeds of subscription of redeemable cumulative nonconvertible preference shares will be used by BK Indonesia towards meeting the business requirements.

Shares of Burger King India Limited was last trading in BSE at Rs. 107.85 as compared to the previous close of Rs. 108.40. The total number of shares traded during the day was 192590 in over 2509 trades.

The stock hit an intraday high of Rs. 109.60 and intraday low of 106.60. The net turnover during the day was Rs. 20800464.00.

Source : Equity Bulls

Keywords

RestaurantBrandsAsia INE07T201019 InvestmentApproval PTSariBurgerIndonesia