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KFC operator Yum China heats up Hong Kong secondary listing

NYSE-traded restaurant group seeks up to $2.5bn, following Alibaba and

An order to go in Shanghai: KFC became the first-ever Western chain restaurant to open in China in 1987.   © Reuters

NEW YORK -- Yum China Holdings filed for a secondary listing in Hong Kong on Friday, becoming the latest New York-traded Chinese company to seek an alternative capital market closer to home amid rising tensions between Beijing and Washington.

The company, which operates chains including KFC, Taco Bell and Pizza Hut in China, plans to sell over 41 million shares at a maximum of 468.00 Hong Kong dollars, or $60.39 each, according to its prospectus. The offering, which will take place in about a week, could raise as much as around $2.5 billion for the company.

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