Jollibee Foods Corporation (JFC) has selected Hong Kong as the proposed listing venue for its international business, replacing its earlier plan to pursue a US listing.
The Philippine restaurant group said it is progressing with the separation of its international operations from its Philippine business and is considering a separate listing of Jollibee Foods Corporation International (JFCI) on the Main Board of the Hong Kong Stock Exchange (HKEX).
Under the proposed structure, JFCI will hold Jollibee’s international operations, while JFC will retain its Philippine business and remain listed on the Philippine Stock Exchange. The separation is intended to create two independently listed companies, each with its own strategic priorities and investment profile.
JFC said Hong Kong was selected because of its market depth, investor base and relevance to the company’s international footprint. The city also offers access to global and regional investors and is considered well positioned to support JFCI’s ambitions beyond Asia, including continued growth in North America.
“Since the announcement of 6 January 2026 to list our international business, we have been doing the detailed work required to establish two strong, independent companies,” said Tony Tan Caktiong, Chairman of Jollibee Foods Corporation.
“That work has reinforced our conviction in the listing and has led us to conclude that Hong Kong is the market best aligned with JFCI’s business, geographic footprint, and long-term ambitions,” he added.
JFC originally announced in January that it intended to separate its international business and pursue a listing on a US securities exchange. The latest decision marks a strategic shift toward Hong Kong as JFC prepares the overseas business for independent operations and public ownership.
The company has also appointed Richard Chong Woo Shin as CEO of JFCI. Shin currently serves as JFC’s Chief Financial and Risk Officer and CEO of JFC International. He will continue in his current roles until the separation is completed, after which he will become JFCI’s full-time CEO.
JFC said substantial work has already been undertaken on the proposed separation, including transaction structure, governance, financing, systems and organisation. The company is working with legal and other professional advisers on the process.
The proposed separation and listing remain subject to corporate and regulatory approvals, market conditions and the completion of the necessary restructuring. JFC has not yet provided final listing terms or a definitive completion date and said there is no assurance that the proposed transaction will ultimately proceed.
