Yum China's stock surges in active trade on debut
Shares of Yum China Holdings Inc. are enjoying some success on their debut, as they are climbing 3.1% in active trade Tuesday morning. Over 6.6 million shares changed hands in the first 90 minutes of the regular session. The stock's first trade after the opening bell was at $24.60 at 9:30 a.m., up 1.5%, before extending gains. Meanwhile, Yum Brands Inc.'s stock was up 0.2% at $62.18. The fast-food restaurant chain operator, which brands include KFC, Pizza Hut and Taco Bell, said Tuesday that it had completed the separation of Yum China, and will begin trading as two separate entities. Yum China is a licensee of Yum Brands, and has exclusive rights in mainland China to KFC, Pizza Hut and Taco Bell. It also owns the Little Sheep and East Dawning restaurant brands.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.