Jollibee Foods Corp. is exploring a move to list the spinoff of its international business on the Hong Kong stock exchange instead of the US as originally planned, sources said on June 5, 2026 [1, 2, 3]. The Philippine fast-food giant is working with advisers and could aim to complete the listing by the end of 2027 [1, 2, 3].
The potential change in listing venue comes after Jollibee shares in Manila dropped about 25% in 2026, leaving the company with a market capitalization around US$2.5 billion [2, 3]. Jollibee already operates 24 outlets in Hong Kong and has a strong following among the Filipino community there [2, 3].
The company also runs other brands including Smashburger, Coffee Bean & Tea Leaf, Highlands Coffee, Yonghe King, the Philippine Burger King franchise, and a 50-50 joint venture with Yoshinoya [2, 3]. Its international footprint spans over 270 stores outside the Philippines, with presence in the US, Canada, Singapore, Middle East, Italy, Spain, and the UK [2, 3].
Jollibee first announced in January 2026 plans to spin off its international business and list it on a US exchange to sharpen focus on its distinct business segments [2, 3]. But Hong Kong’s primary and secondary share sales this year reached nearly US$38 billion so far, a rise from US$26 billion in 2025 and less than US$5 billion in the first half of 2024, making it an attractive market venue [2, 3].
Hong Kong is actively seeking to diversify listings beyond Chinese firms and attract Southeast Asian companies, including those from Vietnam, which may be appealing to Jollibee [2, 3]. If the plan proceeds, Jollibee aims to complete the Hong Kong listing by the end of 2027 [1, 2, 3].
