News

Yum China rings in on NYSE this morning

November 1, 2016

Yum China completed separation from Yum Brands and begins trading as an independent company on the New York Stock Exchange today under the ticker symbol, "YUMC." At 9:26 a.m. EST, ceremonies in New York and Shanghai will have Yum! Brands CEO Greg Creed and Yum China CEO Micky Pant simultaneously ringing the NYSE opening bells to begin the day's trading.

In Shanghai, four Yum China restaurant general managers will join Micky Pant to ring the NYSE opening bell, marking the start of China’s largest publicly traded restaurant operator. It is the first time the opening bell has ever been ringed remotely to open trading for a company on the exchange. 

"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," Pant said in a news release. "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 comes on the heels of another announcement late yesterday that Ruby Lu had been appointed to the Yum China board of directors, bringing the total body to 10 members. She is an independent venture capitalist who co-founded DCM China, an early-stage venture capital firm. She is an independent director and chairman of the special committee for iKang Healthcare Group and previously served as vice president in the technology, media and telecommunications investment banking group of Goldman Sachs & Co. in Menlo Park, California.