Yum China (YUMC) Completes Separation From Yum! Brands (YUM)
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Yum China Holdings, Inc. (NYSE: YUMC) today announced that it has completed its separation from Yum! Brands, Inc. (NYSE: YUM). Yum China will begin trading "regular way" as an independent company today on the New York Stock Exchange (NYSE) under the ticker symbol "YUMC."
"After 30 years in China, we are incredibly excited to begin a new chapter as an independent company focused on growth in China," said Yum China CEO Micky Pant.
In ceremonies taking place today in New York and Shanghai, Yum! Brands CEO Greg Creed and Yum China CEO Micky Pant will simultaneously ring the NYSE Opening Bell® to begin the day's trading and commemorate the occasion.
In Shanghai, four Yum China restaurant general managers will join Micky Pant to ring the NYSE Opening Bell®, celebrating the birth of the largest publicly-traded restaurant operator in China. It is the first time that the NYSE Opening Bell® will be rung remotely in China to celebrate a company listing on the market. Tom Farley, NYSE Group President, four Yum China Board members and the Yum China Leadership Team will also attend the event.
Mr. Pant continued, "China presents an outstanding opportunity for high-quality restaurant concepts with unprecedented urbanization, a rapidly growing middle class, and ongoing investment in world class infrastructure. With exclusive rights in mainland China to the iconic global brands – KFC, Pizza Hut and Taco Bell, ownership of two unique local brands, and a presence in more than 1,100 cities, we are well positioned to take advantage of this opportunity. As an independent company, we will maintain our focus on China by increasing our investment in new stores, innovative menu offerings, digital engagement and delivery to further grow our brands across the country. This will enable us to provide delicious food to more customers, deliver even greater opportunities for our employees and partners, and generate long-term value for our shareholders."
The NYSE Opening Bell® ceremony will begin at 9:26 a.m. Eastern Time, and a live feed of the event can be found at www.livestream.com/NYSE. Photos and video of the NYSE Bell Ringing Ceremony will also be available, courtesy of the NYSE, on Facebook (NYSE); Twitter (@NYSE); Instagram (@NYSE); and, Snapchat (NYSE).
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