(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.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.