Announcement for August 07, 2025 at 09:26 PM GMT
THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES
CHANGE IN LISTING OF YUM CHINA HOLDINGS AS PART OF THE AUGUST 2025 INDEX REVIEW
COUNTRY CODE CN
SECURITY NAME YUM CHINA HOLDINGS(HK) (from YUM CHINA HOLDINGS)
TIMESERIE/MSCI CODE 112139 / 91519.01
ISIN US98850P1093
SEDOL BN2BD13 (from BYW4289)
SECURITY TICKER 9987 HK Equity (from YUMC UN Equity)
STANDARD MAINTAINED
LARGE CAP MAINTAINED
MID CAP -
GICS SUB-INDUSTRY 25301040 - Restaurants
NUMBER OF SHARES 370,485,758 (from 374,996,934)
FIF 1.00
IIF 1.00
VIF 0.00
TYPE OF EVENT INDEX REVIEW
EVENT ID TBD
EFFECTIVE DATE August 27, 2025
STATUS INDEX REVIEW UPDATE
As part of MSCI's August 2025 Index Review, Yum China Holdings met the requirements for a change of listing from its ordinary-share listing in the New York Stock Exchange to its ordinary-share listing in the Hong Kong Exchanges and Clearing Limited (HKEX) in the MSCI China and relevant composite indexes in the MSCI Global Investable Market Indexes (GIMI).
As a reminder, according to section 3.1.2.4 of the MSCI GIMI Methodology, changes from a foreign listing to a local listing for existing index constituents will be applied in all cases where the local listing has a 12-month Annual Traded Value Ratio above two times the minimum level requirement of 15% for Emerging Markets.
MSCI will implement this listing switch for the MSCI GIMI indexes as a market neutral event to reflect the fungibility of the USA and Hong Kong listings of Yum China Holdings
MSCI will proceed with below implementation for Yum China Holdings' change of listing:
- To reflect the listing switch, MSCI will maintain YUM CHINA HOLDINGS (MSCI Code: 91519.01) in the MSCI GIMI with a change in price currency to HKD, a change in identifiers (new Security Ticker: 9987 HK Equity), a change in share type to P-chip and a change in name to YUM CHINA HOLDINGS(HK) effective August 27, 2025;
- MSCI will continue to use the closing price of YUM CHINA HOLDINGS (YUMC UN Equity) until the close of August 26, 2025 and will start tracking the price of YUM CHINA HOLDINGS(HK) (9987 HK Equity) on August 27, 2025;
Note that for the pre-open price of August 27, 2025, MSCI will use the closing price YUM CHINA HOLDINGS (YUMC UN Equity) on August 26, 2025. This would be adjusted with the USD/HKD WM/Reuters Closing Spot Rates taken at 4PM London on August 26, 2025.
The above noted changes will be reflected in the Advance Corporate Events (ACE) files starting from August 08, 2025. Please note that the pro forma tickers will be reflected in the MSCI product files only on August 26, 2025.
The listing switch of Yum China Holdings will also be reflected in relevant non-market capitalization weighted indexes as detailed below:
For indexes where YUM CHINA HOLDINGS (MSCI Code: 91519.01) is an existing constituent and will remain in the index on August 27, 2025, the listing switch of Yum China Holdings will be reflected in line with the treatment in the parent indexes.
For indexes where YUM CHINA HOLDINGS(HK) (MSCI Code: 91519.01) will be added as part of the August 2025 Index Review, MSCI will use the August 26, 2025 closing price of YUM CHINA HOLDINGS (YUMC UN Equity) for the index addition.
Furthermore, for certain indexes that exclude foreign listings such as the MSCI China ex Foreign Listing Indexes and the MSCI Hong Kong-Listed Southbound Indexes, the addition of Yum China Holdings, if applicable, will be represented by YUM CHINA HOLDINGS (HK) (MSCI Code: 91519.04), effective on August 27, 2025, using its Hong Kong price as of the close of August 26, 2025.
Effective from September 09, 2025, MSCI will change the security name and MSCI Code of YUM CHINA HOLDINGS (HK) (MSCI Code: 91519.04) to YUM CHINA HOLDINGS(HK) (MSCI Code: 91519.01).
THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES
End of announcement.
Further announcements may occur as needed.
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