Yum China Wins Approval for Mega Hong Kong Second Listing
- KFC operator could test investor interest as soon as next week
- Joins U.S.-listed Chinese firms offering shares closer to home
Yum China Holdings Inc. KFC restaurant in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Yum China Holdings Inc. has received the green light from the Hong Kong stock exchange for its proposed second listing, people familiar with the matter said, adding to the list of billion-dollar share sales in the Asian financial hub.
China’s largest restaurant company, which runs outlets in the country of U.S. brands including KFC, Pizza Hut and Taco Bell, is considering gauging investor demand for the share sale as soon as next week, one of the people said, asking not to be identified because the information is private. Yum China could raise about $2 billion, Bloomberg News has reported.