The operator of Pizza Hut and KFC restaurants in China is joining the parade of U.S.-traded Chinese companies filing for a second listing in Hong Kong, Bloomberg reported Tuesday.
New York-listed Yum China Holdings Inc. is working with China International Capital Corp. and Goldman Sachs Group Inc. on the preparations of the share sale, which could take place as soon as this year, the report said citing people familiar with the matter.
Last week, IFR reported that Yum China is considering raising $2 billion in a Hong Kong listing.
The deal follows e-commerce giant Alibaba Group Holding Ltd.’s $13 billion share sale in Hong Kong in November. The city’s stock exchange operator is reportedly in discussions with Chinese technology companies including Trip.com Group Ltd. and NetEase Inc. for possible share sales.
Yum China, which was spun off from Louisville, Kentucky-based Yum! Brands Inc. in 2016, operated more than 8,900 restaurants across China as of the end of September. It hired about 450,000 people in the country, according the latest data released by the company.
Contact reporter Han Wei (firstname.lastname@example.org)