YUM China Holdings Inc filed an application for a secondary listing in Hong Kong yesterday, a rising trend among some Chinese firms to list closer to home in a bid to mitigate risks from escalating US-China tensions.
The owner of KFC, Taco Bell and Pizza Hut restaurants in China expects the New York Stock Exchange to continue to be its primary listing, it said in a filing.
The company could raise about US$2 bil (RM8.33 bil) in its Hong Kong listing, Bloomberg reported in June.
Its market capitalisation stood at nearly US$21 bill, according to Refinitiv data based on its last closing share price on Thursday.
The Nasdaq-listed Chinese e-commerce retailer JD.com had in June raised US$3.87 bil in its Hong Kong secondary listing, the city’s biggest so far this year. – Aug 29, 2020, Reuters
