Why Yum China's secondary offering will be a game changer

Yum China, the US-listed Chinese operator for KFC, Pizza Hut and Taco Bell, is reportedly exploring a secondary offering in Hong Kong.

The announcement follows JD.com and NetEase, which raised $4 billion and $3 billion respectively in the city state in June. E-commerce giant Alibaba raised $13 billion in November last year.

The appeal towards raising money in Hong Kong comes as relations between the United States and China further deteriorates amid ongoing trade tensions and criticisms over the novel coronavirus. Aggressive rhetoric has spilled into financial markets, where the US Congress plans to require Chinese companies listed in New York to comply...