After the completion of the spinoff of Yum Brand’s China unit, Yum China Holdings Inc. shares has increased on the first day of trading on the New York Stock Exchange by eight percent.

Yum China shares have increased to $24.51 under the ticker “YUMC,” according to Wall Street Journal. It has no debt and over $900 million in cash.

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“Yum China’s listing will give U.S. investors one of their only opportunities to own a pure-play on China’s appetite for fast food, with a brand recognizable to U.S. consumers,” said Matt Kennedy, an analyst at IPO ETF manager Renaissance Capital.

Under the spinoff plan, Yum Brand shareholders as of Oct. 19 received one Yum China share for each share they held of the parent firm. About 364 million shares of Yum China common stock were distributed in the separation.

It will be a licensee of Yum Brands on the China mainland. The company will have the exclusive right as well to operate KFC, Pizza Hut, and Taco Bell brands, Fortune reported. Moreover, it will also own and operate China-focused East Dawning and Little Sheep concepts outright.

Yum China has been introduced to shareholders as the leading restaurant company in China with over 7,200 restaurants in more than 1,100 cities and $6.9 billion in revenue. Just a year ago, it generated over $8 billion in revenue.

The spinoff is part of Yum Brands plan to expand globally along with launching a new restaurant in the coming years as well as gearing toward more restaurant ownership to franchisees.

TagsYum! Brands, Yum China, KFC, Taco Bell, pizza hut, Yum China shares