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Thread: the Kentucky Fried Thread

  1. #91
    Join Date
    Dec 1969
    Location
    Fremont, CA, U.S.A.
    Posts
    43,068

    ...or not...

    2020. The year of flops.

    Companies
    Yum China flops in Hong Kong debut amid lingering questions about strategy for KFC, Pizza Hut to overcome Covid-19 slump
    Shares of the Shanghai-based company began trading at HK$410, a slight discount to the HK$412 that they were offered at in their HK$17.27 billion (US$2.23 billion) secondary listing on the Hong Kong stock exchange
    The stock fell by as much as 6.3 per cent to an intraday low of HK$386.20 in recent trading, ending the day at HK$390.20
    Daniel Ren
    Alison Tudor-Ackroyd
    Daniel Ren in Shanghai and Alison Tudor-Ackroyd
    Published: 12:00pm, 10 Sep, 2020


    Pedestrians walk past a Pizza Hut restaurant and a KFC restaurant, both operated by Yum China Holdings in Beijing on Saturday, Sept. 5, 2020. Photo: Bloomberg

    Yum China Holdings, the owner of the KFC and Pizza Hut restaurant chains in China, got off to a bumpy start in its Hong Kong trading debut when its stock became the first in a long while to open at a loss.
    Shares of the Shanghai-based company began trading at HK$410, a slight discount to the HK$412 that they were offered at in their HK$17.27 billion (US$2.23 billion) secondary listing on the Hong Kong stock exchange. The stock fell by as much as 6.3 per cent to an intraday low of HK$386.20 in recent trading before ending its first trading day at HK$390.20 to record an unusual loss for retail investors who have subscribed to it.
    “The first-day performance was slightly below market expectations, but it would not damp investors’ enthusiasm in secondary listings,” said He Yan, a hedge fund manager with Shanghai Shiva Investment. “Companies with strong consumer awareness on the mainland are among the favourite stocks for Chinese investors.”
    The flop in Yum China’s Hong Kong debut draws a stark contrast with a spate of bumper initial public offerings (IPO) in the city, where stocks gained 50 per cent or more in value when they changed hands for the first time. Just this week, Nongfu Spring successfully completed its HK$8.35 billion IPO, setting the record as the most overbought offer in Hong Kong’s financial history with 1,147 times more investors submitting bids than available shares. The water bottler’s stock debuted at an 85 per cent premium to its offer price.

    Yum China’s offering comes as restaurants worldwide are still struggling with social distancing regulations to contain the global coronavirus pandemic.
    The chain is betting that its franchise of 10,000 restaurants across 1,400 cities and townships in mainland China stand a better chance of succeeding than other markets, as the nation became the first major economy to emerge from the coronavirus lockdown.


    Pedestrians walk past a KFC restaurant operated by Yum China Holdings in Beijing on Saturday, Sept. 5, 2020. Photo: Bloomberg

    The Covid-19 pandemic has posed a huge challenge to the restaurant industry and investors were keen on hearing answers to the question of how the management weathered through the challenges and recovery of operating results, said Huang Peihao, head of equity capital markets in Asia for UBS.
    “Through a secondary listing in Hong Kong, the company attracted Asian time-zone investors, including those from Hong Kong, mainland China, and Singapore. The secondary listing also facilitates a closer tie with Yum China’s customers,” said Huang, whose bank UBS is joint global coordinator with Goldman Sachs, Citigroup and CMB International for Yum China’s stock offer. “We believe these will support the company‘s medium and long-term development.”
    For now, investors appear unconvinced. The Hong Kong shares fell by as much as 3 per cent on the Bright mart grey market overnight, before transactions formally began in the city, signalling that the stock would open at a discount. Yum China’s US-traded American depositary receipts rose 1.7 per cent overnight to US$53.20 in New York.
    Yum China posted a 51.5 per cent drop in profit for the first six months of this year, earning US$194 million.
    The company granted the underwriters of its international offering an overallotment option to purchase up to an additional 6.3 million shares at the offer price. If the overallotment is fully exercised, the company would raise an additional HK$2.56 billion.


    Daniel Ren
    Daniel Ren is the SCMP's Shanghai bureau chief. A Shanghai native, Daniel joined the SCMP in 2007 as a Business reporter.

    Alison Tudor-Ackroyd
    Alison is the Post's Finance Editor. Previously, she was Managing Editor of FinanceAsia; The Wall Street Journal's Asia Pacific Senior Finance Correspondent and before that Reuters' Asia Private Equity Correspondent. She has more than 20 years' experience reporting on finance while based in London, Milan, Paris, Tokyo and now Hong Kong. Alison has moderated panels at numerous summits from Sibos, Milken to Rise. In 2018, she was named Fintech Journalist of the Year and won Outstanding Contribution to Journalism in Asian press awards.
    Gene Ching
    Publisher www.KungFuMagazine.com
    Author of Shaolin Trips
    Support our forum by getting your gear at MartialArtSmart

  2. #92
    Join Date
    Dec 1969
    Location
    Fremont, CA, U.S.A.
    Posts
    43,068

    It would be pretty funny to toss one into someone's fireplace...

    It's back.

    The KFC Yule log is back and disgusting as ever


    Fill your home with the smell of a greasy fast food chain this holiday season.Fill your home with the smell of a greasy fast food chain this holiday season.IMAGE: ENVRIO-LOG
    BY MILLER KERNMASHABLE SHOPPING
    19 HOURS AGO
    The air is getting colder as we approach the cozy winter months and if you breathe in deep you can catch a whiff of that crisp fall air. Wait, no. That’s crispy chicken we’re smelling.

    That’s right — the KFC 11 Herbs & Spices firelog is back, baby. This absolutely cursed log is made for fireplaces, fire pits, and wood stoves and will make your home smell like greasy fried chicken. And who wouldn’t want that?

    Warning: The product description says burning the log may result in a craving for fried chicken. It also reminds you that while the firelog smells great (that’s questionable) you should not attempt to eat it — because we know that would be your first instinct, right?

    The KFC log burns for up to three unbearable hours and is made from 100% recycled materials, which is a cool move on KFC’s part. While the firelog wouldn’t make the cut for most holiday gift guides, it does actually make for a pretty good white elephant gift.

    And the best part? The KFC 11 Herbs & Spices firelog is on sale for $15.88, down from $19.98. It’s not much of a savings, but it’s better than paying full price for something that will likely be a gag gift. Emphasis on the "gag." (And if you truly do enjoy the scent, there’s no judgment here. Well, maybe a little.)
    Gene Ching
    Publisher www.KungFuMagazine.com
    Author of Shaolin Trips
    Support our forum by getting your gear at MartialArtSmart

  3. #93
    Gosh! It's my all-time favorite.

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