Yum China announces $460m share repurchase program

Yum China Holdings, Inc. announced a comprehensive share repurchase program totaling approximately $460 million, expected to conclude by the first half of 2026. This includes approximately $350 million under a Rule 10b5-1 Repurchase Agreement for the U.S. market and an estimated HK$880 million for a similar program in Hong Kong. These repurchases form part of the company's broader capital allocation strategy to return $1.5 billion to shareholders through dividends and share repurchases by 2026.

The Hong Kong Repurchase Agreement will be executed through Goldman Sachs (Asia) L.L.C. The company has secured a waiver from the Stock Exchange regarding strict compliance with Rule 10.06(2)(e) of the Listing Rules, enabling repurchases during restricted periods, provided specific safeguards against insider trading and market manipulation are met. The repurchase programs are slated to commence on January 12, 2026, and will last approximately six months, or until the full repurchase amount is completed.