Jollibee Foods Corporation announced on September 1, 2026, that it will spin off its international unit, Jollibee Foods Corporation International (JFCI), and list it on the Hong Kong stock exchange instead of pursuing a previously planned listing in the United States [1, 2, 3].
The company said Hong Kong is a natural market for JFCI due to Jollibee's strong presence and brand recognition across Asia. It added that the Hong Kong market offers access to a broad base of global and regional investors and better price discovery, which suits JFCI’s ambitions for growth beyond Asia, including in North America [1, 2, 3]. Jollibee officials stated, "Hong Kong offers the market environment and investor relevance to support JFCI’s long-term ambitions" [2].
Jollibee Foods Corporation, headquartered in Manila, operates more than 10,700 stores across 33 countries, including the US, China, Vietnam, and Canada. It manages 20 fast-food brands [4, 2, 3]. Founded to serve the Filipino diaspora abroad, the company is now targeting non-Filipino customers globally [4].
The group chief financial and risk officer, Richard Shin, will serve as chief executive of the new JFCI entity [2, 3].
Hong Kong’s initial public offering market is experiencing a boom in 2026, with proceeds exceeding US$45 billion and on track to surpass the 2010 record of US$57.8 billion [2, 3]. Market analysts like Pepperstone strategist Dilin Wu said the Hong Kong listing could offer better price discovery since investors are familiar with Jollibee’s regional growth story and better positioned to assess its value [1].
Jollibee did not elaborate on its reasons for dropping the US listing beyond favoring Hong Kong’s market environment and investor relevance [2, 3].
The listing plan now sets the stage for Jollibee to broaden its investor base and capitalize on Hong Kong’s active capital markets.
