Yum China applies for voluntary conversion to primary listing on Hong Kong stock exchange

Yum China Holdings Inc. /zigman2/quotes/208495167/composite YUMC +0.54% said Monday it has applied for a voluntary conversion of its secondary listing status on the Hong Kong stock exchange to a primary listing. In compliance with exchange rules, the company will call a special shareholder meeting on Oct. 11 to seek approval for the move. Yum China will become dual primary listed on the New York Stock Exchange and Hong Kong exchange if shareholders approve the move and the exchange agrees. "This strategic move would further broaden our shareholder universe, increase liquidity and mitigate the risk of delisting from the NYSE," the company said in a statement. Shares were down 1.3% premarket and have fallen 3.6% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.27% has fallen 10%.

/zigman2/quotes/208495167/composite

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Yum China Holdings Inc.

US : U.S.: NYSE

$ 55.72

+0.30 +0.54%

Volume: 1.44M

Sept. 29, 2023 4:00p

P/E Ratio

31.64

Dividend Yield

0.93%

Market Cap

$23.10 billion

Rev. per Employee

$25,860

/zigman2/quotes/210599714/realtime

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S&P 500 Index

US : S&P US

4,288.05

-11.65 -0.27%

Volume: 0.00

Sept. 29, 2023 5:20p