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Restaurant Brands to seek ASX dual-listing

NZ Newswire logoNZ Newswire 22/06/2017 Sophie Boot

Fast food retailer Restaurant Brands plans to dual-list on the Australian Stock Exchange by the end of September.

Ahead of its annual meeting in Auckland on Friday, the company announced it will seek a foreign-exempt listing on the ASX in June.

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 NSW.

Restaurant Brands also reported its fourth quarter sales in March. They rose 37 per cent to $NZ121.6 million ($A117 million), bolstered by gains from its Australian KFC stores. The quarterly gain lifted annual sales 28 per cent to $NZ497.2m.

The shares last traded at $NZ5.96 on New Zealand's exchange, up 17 per cent in the past year.

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