Yum China prepares to list in Hong Kong
Pizza Hut and KFC restaurant operator Yum China is preparing for a second listing in Hong Kong.
The US-listed firm is currently working on proceedings with China International Capital and Goldman Sachs to establish a footing closer to its base territory. The listing could take place as early as this year.
Bloomberg revealed that the Hong Kong Stock Exchange is seeing a spike in inquiries about second listings from Chinese companies since Alibaba’s US$13 billion share sale two months ago.
Yum China operates more than 8900 restaurants across the Chinese market and recently agreed to purchase a majority shareholding in simmer pot restaurant operator Huang Ji Huang.
Meanwhile, shares in Chinese restaurant chain Jiumaojiu International soared by than 40 per cent when they debuted on the Hong Kong Stock Exchange yesterday. Jiumaojiu has 328 outlets trading under five brands in Mainland China, where it plans to focus its business for now, before expanding into Hong Kong, other Asian markets and North America in the longer term.