Yum! Brands (YUM) Files for IPO of 10M Yum China Holdings (YUMC) Shares

September 21, 2016 7:57 AM EDT

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Yum! Brands (NYSE: YUM) filed a registration with the U.S. SEC for an IPO of 10 million shares of Yum China Holdings, Inc., (NYSE: YUMC).

Yum China plans to list on the NYSE under, YUMC.

Company summary: Yum China Holdings, Inc. is the largest restaurant company in China with approximately 7,200 restaurants, $6.9 billion of revenue, net income of $323 million and $998 million of adjusted EBITDA in 2015. Our growing restaurant base consists of China's leading restaurant brands, including KFC, Pizza Hut Casual Dining, Pizza Hut Home Service, East Dawning and Little Sheep. Following our separation from YUM, we will have the exclusive right to operate and sub-license the KFC, Pizza Hut and Taco Bell brands in China, and will own the East Dawning and Little Sheep concepts outright. We were the first major global restaurant brand to enter China in 1987 and have developed deep experience operating in the market. We have since grown to become one of China's largest retail developers covering over 1,100 cities and opening an average of two new locations per day over the past five years.

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