“The company continues to evaluate various strategic options for the intended listing of its international business with a view to determining what would best serve the best interests of the company and its shareholders, and these evaluations remain ongoing,” the fast food giant founded by tycoon Tony Tan Caktiong said in a stock exchange filing on Monday.
The disclosure suggests the venue for one of the company’s biggest restructuring plans remains under review, even as Jollibee reaffirmed its intention to separate its international operations from its Philippine business.
Listing plans remain under review
JFC shares fell nearly 3 percent to P132.60 each on Monday, extending the decline to about 25 percent since the start of 2026.
Bloomberg reported, citing people familiar with the matter, that Jollibee was studying a potential Hong Kong listing as the Asian financial hub enjoys renewed momentum in equity fundraising.
In response, Jollibee reiterated that it had announced in January plans to spin off its international business and pursue a listing on a US securities exchange, subject to market conditions, regulatory approvals and other considerations.
The statement did not specifically rule out Hong Kong as a potential listing venue.
Global business takes center stage
Jollibee first unveiled the restructuring plan in January, saying the transaction could involve an initial public offering by late 2027.
The move would create a standalone international company focused on overseas growth while leaving the Philippine business as a separate listed entity.
The international business has become the larger side of the group, accounting for about two-thirds of Jollibee’s more than 10,000 stores worldwide.
—Edited by Miguel R. Camus
