Yum China (NYSE:YUMC) shares are trading lower on Friday after the company priced an offering of roughly 41.9 million shares at $53.16 per share.
With 10,000 units as of June 2019, Yum China is the largest restaurant chain in China. It generates revenue through its own restaurants and franchise fees. Key concepts include KFC (nearly 6,700 units) and Pizza Hut (2,300), but the company's portfolio also includes other brands such as Little Sheep, East Dawning, Taco Bell, Huang Ji Huang, COFFii & Joy, and Lavazza (collectively representing about 950 units).
Yum China is a trademark licensee of Yum Brands, paying 3% of total systemwide sales to the company it separated from in October 2016.
Yum China shares were trading down 4.65% at $53.32 at the time of publication on FridayThe stock has a 52-week high of $59.35 and a 52-week low of $38.33.