Homegrown food giant, Jollibee Foods Corp., is shaking up its structure with a bold plan to separate its international business from its Philippine operations, aiming to unlock clearer growth pathways and attract distinct investor appetites.
The company said its overseas arm is being prepped for a standalone listing on a US securities exchange by late 2027, while the Philippine business stays put on the Philippine Stock Exchange.
Under the proposal, the Philippine‑focused Jollibee entity will remain the home base: a resilient, cash‑generative consumer platform built on its dominant local brands. The redesigned Jollibee Foods Corp. International (JFCI) will house all operations outside the country, positioned as a global growth engine with fast‑growing concepts across multiple markets.
Listing in the US is expected to open the door to broader pools of institutional and retail capital and give the global business a higher profile separate from domestic performance. Shareholders would receive JFCI shares in proportion to their existing holdings, after which they can choose to hold or sell each stock based on their investment strategy.
Investors welcomed the restructuring news. Jollibee shares jumped nearly 10 percent in Manila, with traders cheering the clearer separation of stable domestic earnings from higher‑growth international potential. Analysts say the breakup could help each business attract the right kind of capital—steady income‑oriented funds for the local arm and growth‑focused investors for the international unit.
The spin‑off plan appears inspired in part by recent Filipino success in securing a U.S. exchange listing: Hotel101 Global, a hotel venture co‑owned by DoubleDragon and Jollibee co-founder Tony Tan Caktiong, successfully listed on the NASDAQ under the ticker HBNB in mid‑2025 with an equity value of about USD2.3 billion—the first Filipino‑linked company to ring the Nasdaq bell.
Jollibee’s global footprint has expanded rapidly, with thousands of stores abroad that now make up a significant portion of its network. This international momentum—and a capital‑light model for expansion—is part of what makes the separate global vehicle attractive to international markets.
The plan is still preliminary. JFC has engaged advisers to define the structure, timing and legal framework for the spin‑off, with execution subject to market conditions, due diligence, and regulatory approvals.
If realized, the split could mark a defining chapter in Jollibee’s evolution: giving investors the choice between a stable domestic consumer play and a dynamic global growth story poised to compete on a wider stage.
