Sep 10, 2020

Yum China's HK listing is the latest 'homecoming'

Yum China, which runs KFC and Pizza Hut restaurants, listed its shares on the Hong Kong stock exchange on Thursday amid growing tensions with the US. The fast good giant is also listed in the US where Chinese companies are coming under increased scrutiny. Yum China runs around 10,000 restaurants across mainland China in more than 1,400 cities and towns. The weaker-than-expected stock market debut for Yum China followed strong demand for its shares during this month's initial public offering. Hong Kong-based investment firm Jefferies said the listing may have been dampened due to rising China-US tensions and Yum China's growth prospects outside of its main brands, which include Taco Bell. Yum China also has a stake in Chinese online shopping platform Meituan which offers entertainment, dining, food delivery and travel services.

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