Jollibee Foods Corp has announced plans to spin off its international operations and list the new entity on a U.S. securities exchange, marking a major strategic restructuring aimed at unlocking shareholder value and sharpening business focus.
In a disclosure filed with the Philippine Stock Exchange, the company confirmed that its Philippine operations will remain listed locally, while the international business will operate as a separately listed company. The move is designed to create two independent public entities with distinct growth strategies, capital structures, and investor profiles.
Following the announcement, Jollibee shares surged 14.5%, recording the company’s largest single-day gain in more than five years. The strong market response reflects investor optimism around clearer valuation transparency and potential upside from the group’s global portfolio.
Jollibee stated that it is targeting completion of the spin-off and U.S. listing in late 2027, subject to market conditions, regulatory approvals, and due diligence processes.
Under the proposed transaction, existing Jollibee shareholders are expected to receive shares in the new international entity proportional to their current holdings. The company noted that the final structure will depend on legal, tax, and regulatory considerations, and that details remain preliminary and subject to change.
Jollibee currently operates more than 10,000 stores across 33 countries, making it one of the largest Asian quick-service restaurant groups globally. Its international portfolio includes well-known brands such as Jollibee, Chowking, Smashburger, and Tim Ho Wan.
By separating its domestic and international businesses, Jollibee aims to allow investors to independently assess the growth dynamics, risk profiles, and capital requirements of each segment—particularly as its overseas operations continue to scale across North America, Asia, and the Middle East.
The development was first reported by Reuters.
