Shares of Jollibee Foods Corp. surged Thursday, pushing towards its 52-week high after the Philippine Stock Exchange (PSE) approved listed food group’s request to amend its foreign ownership limit by removing the 40 percent cap and replacing it with “no limit.”
The removal of the foreign ownership limit stems from the amendment of Jollibee’s Articles of Incorporation, which now disallows Jollibee to own, acquire, mortgage, pledge, or encumber land. Land ownership is limited to companies at least 60 percent owned by Filipinos.
On Thursday, Jollibee shares closed nearly 11 percent higher at P262.40, outpacing the broader market. The benchmark PSEi ended 1.1 percent higher at 6113.19.
Jollibee’s decision to lift its foreign ownership ceiling is seen as a strategic step to attract greater investment and bolster its position as the Philippines’ largest fast food chain. The company’s mascot, the red-and-yellow Jollibee, is now more recognizable than McDonald’s iconic Ronald McDonald across the nation, underscoring the brand’s dominant market presence.
Analysts believe this shift could significantly boost demand for Jollibee’s stock, attracting international investors who were previously restricted by the foreign ownership limit. The move also aligns with Jollibee’s long-term growth strategy, as it continues to expand its international footprint. With this structural change, Jollibee is positioning itself for further growth in an increasingly competitive global market.
Maybank had projected a net income growth of 20 percent this year and 12 percent in 2026 for Jollibee, anticipating strong domestic business and the strength in its coffee and tea ventures after taking control of Compose Coffee and Jollibee brand’s ongoing strength in North America.
Jollibee is one of the largest restaurant companies in Asia, with 19 brands in its portfolio and more than 9,500 stores spread in 32 countries.
