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Funds pick up shares in Restaurant Brands Asia after top shareholder slashes stake

Reuters SG
·1-min read

BENGALURU, Sept 15 (Reuters) - Funds firms Citigroup, Goldman Sachs Funds, ICICI Prudential and Nomura Singapore bought shares in Restaurant Brands Asia after its largest shareholder reduced its stake in the company, NSE data showed on Friday.

Earlier in the day, Restaurant Brands Asia said in a statement that QSR Asia Pte had cut its stake in the firm to 15.44% from 40.80%.

Among 14 investors that bought shares through block deals in Burger King's India operator, ICICI Prudential and Plutus Wealth Management bought the most, at about 34 million shares each for 119.1 rupees apiece - a marginal discount on the company's Thursday closing price. Stock closed 6.7% higher on Friday after rising as much as 14.46% during the day. (Reporting by Biplob Kumar Das in Bengaluru; Editing by Pooja Desai)