In Hong Kong’s third-largest secondary listing to date this year, Yum China started trading on the Hong Kong Stock Exchange on 10 September. The secondary listing raised the company about HK$17 billion (US$2.2 billion).
Yum China is the largest restaurant operator in China, with brands such as KFC, Pizza Hut and Little Sheep. Jingtian & Gongcheng acted as Chinese legal counsel, and Sidley Austin advised on Hong Kong and American legal matters. Commerce & Finance Law Offices, Freshfields and Simpson Thacher represented the sponsor and underwriters.