Accuracy
Easier to complete transactions accurately the first time around and eliminates 99% of errors.
Accessibility
24/7 via mobile phone, tablet, laptop and desktop with clear instructions led to increased shareholder participation.
Cost effective
Print and mail costs were significantly reduced.
Efficient
Immediate confirmation of submissions virtually eliminates defective submissions.
Secure
Secure data controls reduce the risk of mail fraud.
Our Global Capital Markets team breaking new ground in high profile dual listing
The US-listed company, Yum China Holdings, Inc., is the largest restaurant company in China, operating numerous franchise outlet brands including KFC, Taco Bell and Pizza Hut. In September, we completed a suite of ‘never before seen’ transactions for this high-profile company, thanks to our our Global Capital Markets (GCM), Hong Kong and Technology teams – here’s the story at a glance:
Six months to complete
Nine month project completed in just six months, including a brand new entitiy approved by SEC
A truly global effort
70 people in 16 teams across six countries
Shareholder records
43,000 registered shareholder records migrated from a US competitor
World leading
Delivered a number of world 'firsts', thanks to complex technology solutions
Billions in capital raised
US $2.2 billion of capital raised by Hong Kong IPO
How it all began
In January 2020, Yum China, a NYSE-listed company with Chinese business interests, wanted to conduct an IPO and dual listing in Hong Kong and the US using a single share structure, which had never been done before.
This required a US SEC registered transfer agent to operate in HK and an integrated share register to be held in the US - where we were uniquely positioned to support this project.
• New operational and compliance processes were developed to meet the combined practices and rules of US and HK jurisdictions, as well as providing a route for international investors to move between regions to trade a single fungible share in the US or Hong Kong.
• We migrated 43,000 shareholder records from the existing transfer agent in the US and coordinated a complex and hugely successful Initial Public Offering (IPO) in Hong Kong, raising US$2.2 billion of new capital.
• Despite the global COVID-19 pandemic, our global teams pulled together to deliver all restructuring, IT development, licences, compliance and regulatory tasks several weeks ahead of the original timetable. This was key to the success of the transaction.
Yum China successfully listed on HKEX (Hong Kong Exchanges and Clearing) on 10 September 2020. Their shares can now be freely traded on both the NYSE and HKEX and interchanged between markets as required. In coming years, we expect other major companies to follow the example set by the ground-breaking success of this new structure. We are well positioned as the market-leading experts in designing and implementing detailed, yet efficient, cross-border listing solutions to resolve a range of complex conditions. Please get in touch if you would like to learn more.
Providing governance expertise through the IPO process
Since our last communication, we’re excited to announce new additons to our Company Secretarial and Corporate Governance services team. We’ve recruited experienced company secretaries from the Big 4, as well as in-house, to ensure that we can offer the full suite of services and technology solutions to support clients. Amongst other things, the team are supporting clients on their IPO journey, providing practical company secretarial support to help them prepare for being able to manage ongoing listed company compliance requirements and assisting them with board and committee governance too.
We’re pleased to introduce you to Georgina Milis and Nicholas Pervin.
We’re pleased to introduce you to Georgina Milis and Nicholas Pervin.
Georgina, who is leading the team, is a corporate lawyer with a company secretarial focus. She was previously at PwC and has over 18 years of experience working with clients from a corporate law and company secretarial perspective.
Nicholas Pervin is a member of the Chartered Governance Institute and brings several years’ worth of experience working with listed companies and investment trusts and also has experience working in-house in financial services.
Over the upcoming newsletters, we’ll introduce you to other key members of this team.
Over the upcoming newsletters, we’ll introduce you to other key members of this team.
Delivering unrivalled service throughout the pandemic
No1 Registrar again
We are delighted to announce that for the sixth year in a row, we have been ranked the UK's leading registrar. Particularly pleasing this year is that we are leading across all scoring categories.
Delivering excellent standards of service delivery has always been a priority for us, but never has it been so important as over the last six months. We are incredibly proud to have scored so highly across the board and are delighted to have been able to provide a resilient and leading-quality service, partnering with our clients and their shareholders during these challenging times.
Responding to COVID-19
Throughout the pandemic, we have operated in a risk-controlled manner within our business continuity frameworks to ensure you and your stakeholders get what you need, when you need it, in the safest way possible.
Our business continuity plans were deployed effectively. We moved quickly into ‘the new normal’, moving to remote work where possible, and maintaining rigorous health and safety measures for remaining essential onsite staff. This has enabled us to deliver a resilient, continuous high-quality service.
Additionally, on behalf of client needs, we worked with governments and regulators globally to adopt any necessary emergency provisions to help clients move from physical AGMs to other solutions. Thus far, we are honoured to have helped over 1,200 clients complete virtual AGMs this year.
Our business continuity plans were deployed effectively. We moved quickly into ‘the new normal’, moving to remote work where possible, and maintaining rigorous health and safety measures for remaining essential onsite staff. This has enabled us to deliver a resilient, continuous high-quality service.
Additionally, on behalf of client needs, we worked with governments and regulators globally to adopt any necessary emergency provisions to help clients move from physical AGMs to other solutions. Thus far, we are honoured to have helped over 1,200 clients complete virtual AGMs this year.
| IPO and Share Registry Services |
|---|
Cecilia WilliamsClient Solutions Directorcecilia.williams@computershare.co.uk M: +44 (0) 778 643 0580 Chris GuyBusiness Development Managerchris.guy@computershare.co.uk M: +44 (0) 771 185 6479 |
| Governance Services |
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Georgina MilisSenior Manager
M: +44 (0)7870 365 988
|
| Offshore Services and Share Registry Services |
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Sophie De FreitasClient Relationship Director > Offshoresophie.defreitas@computeshare.co.je M: +44 (0)7797 746501 |
| UK Corporate Actions |
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Ben CarpaniniHead of Business Development > Corporate Actionsben.carpanini@computershare.co.uk M: +44 (0) 776 990 7433 |
| Global and Cross-Border Transactions |
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Charlie HodgeCross-Border Solutions Director > Global Capital Marketscharles.hodge@computershare.co.uk M: +44 (0) 789 992 4835 Michelle DaviesSenior Client Manager > DI Teammichelle.davies@computershare.co.uk M: +44 (0) 792 005 3560 |