HONG KONG, Aug. 31, 2020
/PRNewswire/ -- Yum China Holdings, Inc. (the "Company" or
"Yum China") (NYSE: YUMC), China's
largest restaurant company in terms of 2019 system sales, today
announced the launch of its Hong Kong public offering,
which forms part of the global offering (the "Offering") of
41,910,700 new shares of common stock (subject to the
over-allotment option) and the listing of its shares of common
stock on the Main Board of The Stock Exchange of Hong Kong Limited
(the "SEHK") under the stock code "9987".
The Company's shares will continue to be listed and traded on
the New York Stock Exchange ("NYSE"). Upon the secondary listing in
Hong Kong, the Hong Kong-listed shares will be fully fungible
with the shares listed on the NYSE.
The Offering initially comprises 1,676,500 new shares of common
stock under the Hong Kong public
offering and 40,234,200 new shares of common stock for the
international offering, representing approximately 4% and 96% of
the total number of shares in the Offering, respectively, subject
to reallocation and the over-allotment option.
The offer price for the Hong
Kong public offering will be determined by reference to,
among other factors, the closing price of the shares on the NYSE on
the last trading day on or before September
4, 2020. The Hong Kong
public offer price will be not more than HK$468.00 per share. The offer price for the
international offering tranche of the Offering may be set at a
level higher than the maximum Hong
Kong public offer price, depending on the closing trading
price of the shares on the NYSE on the last trading day on or
before September 4, 2020 and
also the level of interest expressed by professional and
institutional investors during the book-building
process. Shares will be traded in board lots of 50 shares.
The Company plans to use the net proceeds from the Offering i)
to expand and deepen its restaurant network, ii) to invest in
digitalization and supply chain, food innovation and value
proposition, and high-quality assets, as well as iii) for working
capital and general corporate purposes.
The Hong Kong public offering
will commence at 9:00 a.m. on Tuesday,
September 1, 2020, Hong
Kong time, and will close at 12:00 noon on Friday, September 4, 2020, Hong Kong time. Trading of the Company's
shares on the SEHK is expected to commence on Thursday, September 10, 2020.
Goldman Sachs (Asia) L.L.C. is
the sponsor, joint global coordinator, joint bookrunner and joint
lead manager for the Offering. Citigroup Global Markets Asia
Limited, CMB International Capital Corporation Limited and UBS
Group AG are acting as joint global coordinators, joint bookrunners
and joint lead managers.
A shelf registration statement on Form S-3 (File No. 333-248449)
relating to the international offering was filed with the U.S.
Securities and Exchange Commission (the "SEC") and has become
effective. A preliminary prospectus supplement and accompanying
prospectus relating to and describing the terms of the
international offering were filed with the SEC on August 28, 2020. A final prospectus supplement
and accompanying prospectus relating to and describing the terms of
the international offering will be filed with the SEC and made
available on the SEC's web site at www.sec.gov. Copies of the final
prospectus supplement and accompanying prospectus relating to the
offering may also be obtained, when available, by contacting Yum
China Holdings, Inc., 7100 Corporate Drive, Plano, Texas 75024, United States, telephone 1-469-980-2898.
Before investing, interested parties should read the preliminary
prospectus supplement and the accompanying base prospectus in the
registration statement and other documents the Company has filed or
will file with the SEC for more complete information about the
Company and the Offering. This press release does not constitute an
offer to sell or the solicitation of an offer to buy the shares,
nor will there be any sale of the shares in any state or other
jurisdiction in which such offer, solicitation or sale is not
permitted.
About Yum China Holdings, Inc.
Yum China Holdings, Inc. is a licensee of Yum! Brands in
mainland China. It has exclusive rights in mainland China to KFC,
China's leading quick-service restaurant brand, Pizza Hut, the
leading casual dining restaurant brand in China, and Taco Bell, a California-based restaurant chain serving
innovative Mexican-inspired food. Yum
China also owns the Little Sheep, Huang Ji Huang, East Dawning and COFFii &
JOY concepts outright. Yum China
also partners with Lavazza to explore and develop the Lavazza
coffee shop concept in China. The
Company had 9,954 restaurants in over 1,400 cities and towns at the
end of June 2020.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, including our
expectations with respect to the timeline and completion of the
Offering and listing on the SEHK and the use of proceeds from the
Offering. We intend all forward-looking statements to be covered by
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally can be
identified by the fact that they do not relate strictly to
historical or current facts and by the use of forward-looking words
such as "expect," "expectation," "believe," "anticipate," "may,"
"could," "intend," "belief," "plan," "estimate," "target,"
"predict," "project," "likely," "will," "continue," "should,"
"forecast," "outlook" or similar terminology. These statements are
based on current estimates and assumptions made by us in light of
our experience and perception of historical trends, current
conditions and expected future developments, as well as other
factors that we believe are appropriate and reasonable under the
circumstances, but there can be no assurance that such estimates
and assumptions will prove to be correct. Forward-looking
statements include, without limitation, statements regarding the
future strategies, business plans, investment, dividend and share
repurchase plans, earnings, performance and returns of Yum China, anticipated effects of population and
macroeconomic trends, and the expected impact of the COVID-19
outbreak, the anticipated effects of our innovation, digital and
delivery capabilities on growth and beliefs regarding the long-term
drivers of Yum China's business.
Forward-looking statements are not guarantees of performance and
are inherently subject to known and unknown risks and uncertainties
that are difficult to predict and could cause our actual results or
events to differ materially from those indicated by those
statements. We cannot assure you that any of our expectations,
estimates or assumptions will be achieved. The forward-looking
statements included in this press release are only made as of the
date of this press release, and we disclaim any obligation to
publicly update any forward-looking statement to reflect subsequent
events or circumstances, except as required by law. Numerous
factors could cause our actual results or events to differ
materially from those expressed or implied by forward-looking
statements, including, without limitation: whether we are able to
achieve development goals at the times and in the amounts currently
anticipated, if at all, the success of our marketing campaigns and
product innovation, our ability to maintain food safety and quality
control systems, changes in public health conditions, including the
COVID-19 outbreak, our ability to control costs and expenses,
including tax costs, as well as changes in political, economic and
regulatory conditions in China. In
addition, other risks and uncertainties not presently known to us
or that we currently believe to be immaterial could affect the
accuracy of any such forward-looking statements. All
forward-looking statements should be evaluated with the
understanding of their inherent uncertainty. You should consult our
filings with the Securities and Exchange Commission (including the
information set forth under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our Annual Report on Form 10-K,
subsequent Quarterly Reports on Form 10-Q and other reports we file
with the SEC) for additional detail about factors that could affect
our financial and other results.
Investor Relations
Contacts:
Tel: +86 21 2407 7556
/ +852 2267 5801
IR@YumChina.com
|
Media
Contacts:
Yum China
Tel: +86 21 2407
7510
Media@YumChina.com
|
Linda Pui, Citigate
Dewe Rogerson Tel: +852 3103
0118 / +852 9700 0178 linda.pui@citigatedewerogerson.com
|
View original
content:http://www.prnewswire.com/news-releases/yum-china-launches-hong-kong-secondary-listing-301120888.html
SOURCE Yum China Holdings, Inc.