Business Maverick: Yum China Guides Hong Kong Listing Price at HK$412 Each

📆 04/09/2020 08:45:00
📰 dailymaverick

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Yum China Holdings Inc. is telling prospective investors it plans to price its second listing in Hong Kong at HK$412 per share, putting it on course to raise HK$17.3 billion ($2.2 billion), according to people familiar with the matter.

The New York-listed company, which operates KFC and Pizza Hut in the world’s most populous country, is selling 41.91 million shares in the offering. A price of HK$412 would represent a 4.9% discount to its closing price of $55.92 on Thursday, according to Bloomberg calculations.

The Hong Kong offering’s final price will be determined later on Friday, the people said, asking not to be identified as the information is private. A representative for Yum China declined to comment.

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