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Shares of Restaurant Brands Asia, the company that runs Burger King, rose sharply. This increase in the company’s shares has happened after the deal. In fact, the company’s promoter QSR Asia put 25% of its stake up for sale in the open market. Among them, 8 investors bought around 24% equity shares in the company. Following this, the company’s stock rose 6.7% during the trading session on Friday to Rs. It hit a 52-week high of 137.85. At the same time, the stock on BSE rose 6.34 percent to Rs. closed at 128.35.
11.83 crore equity shares purchased
Let us tell you that Tata Mutual Fund, TD Emerging Markets Fund, Plutus Wealth Management LLP, Amal N Parikh, Quant Mutual Fund, ICICI Prudential Life Insurance Company, Goldman Sachs Funds-Goldman Sachs Asia Equity Portfolio, and Franklin Singapore 3 Banken Asia Stock. -Mix. Overall, he spent Rs. 1,349 crore has bought 23.82% stake in the company. According to block deal data on NSE, this stake in the company is equivalent to 11.83 crore equity shares.
Shares of QSR Asia fell
Promoter entity QSR Asia Pte Ltd was the seller in the deal, selling 12.54 crore shares at the same average price, according to NSE data. This share is equal to 25.36 percent of the equity. Restaurant Brands Asia said in a statement on Friday that QSR Asia Pte has reduced its stake in the company to 15.44 percent from 40.80 percent, according to news agency Reuters.
The performance of the company is something like this
Let us tell you that last month the company reported a huge loss in the April-June quarter for the financial year 2023-24. The company’s consolidated net loss for the quarter ended June 30 widened to Rs. 50.48 crore which was Rs. 47.5 crore, the exchange filing said. At the same time, total expenditure increased by over 21 percent to Rs. 672 crores.
Disclaimer: Here is information about share performance only, not investment advice. Investment in stock market is subject to risk and please consult your advisor before investing.