Yum China applies for Hong Kong debut amid U.S.-China tensions By Reuters

Yum China applies for Hong Kong debut amid U.S.-China tensions


© Reuters. A KFC restaurant is seen in Shanghai

(Reuters) – Yum China Holdings Inc (N:) filed an application for a secondary listing in Hong Kong on Friday, a rising trend among some Chinese firms to list closer to home in a bid to mitigate risks from escalating U.S.-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 https://

The company could raise about $2 billion in its Hong Kong listing, Bloomberg reported in June.

Its market capitalization stood at nearly $21 billion, according to Refinitiv data based on its last closing share price on Thursday.

The Nasdaq-listed Chinese e-commerce retailer JD.com (O:) had in June raised $3.87 billion in its Hong Kong secondary listing (HK:), the city’s biggest so far this year.

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