(Yicai Global) Nov 2. -- Shanghai-based, Yum China Holdings Inc. began trading on the New York and Shanghai stock exchanges yesterday, Nov 1. as a separate entity under the ticker [YUMC]. This marks the completion of its separation from Yum! Brands Inc., the parent company behind KFC, Pizza Hut and Taco Bell.
Yum! Brands and Yum China representatives celebrated the occasion by simultaneously ringing the NYSE opening bell in Shanghai and New York.
As part of the separation, Yum China will be a licensee of Yum Brands in the mainland,with over 7,300 restaurants in more than 1,100 cities. "The successful separation of Yum China marks a major milestone in Yum! Brands' history," said Greg Creed, CEO of Yum! Brands. "We've established two powerful, independent companies that are each well capitalized with long runways for growth and value creation."