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Jollibee Eyes US IPO: International Arm to Go Public
14 Jan
Summary
- Jollibee's international business aims for a US stock market listing by late 2027.
- The company's CFO stated the international division is ready for standalone operations.
- Over 6,800 of Jollibee's 10,300 stores are located internationally.
Jollibee Foods Corporation is set to spin off its international operations for a U.S. stock exchange listing by late 2027. The Philippine fast-food giant plans to retain its Manila listing for its domestic business, while its global arm prepares for independent trading. This move is driven by the significant growth of the international segment.
Global Chief Financial Officer Richard Shin expressed confidence that the international business, which accounts for approximately 6,800 of Jollibee's 10,300 stores, is ready to operate as a standalone entity. He highlighted a compound annual growth rate of 26.7% for its international store network over the past 15 quarters, significantly outpacing the group's overall expansion.
The planned spin-off is intended to simplify Jollibee's corporate structure and improve transparency for investors. A U.S. listing is anticipated to provide access to larger capital markets, a broader investor base experienced with global consumer companies, increased liquidity, and wider analyst coverage. Jollibee currently operates in 33 countries under various brands.
