Jollibee Foods is considering Hong Kong for the listing of its international business, replacing an earlier plan to pursue a US listing as it advances the separation of its overseas operations.
Founder and Chairman Tony Tan Caktiong said Hong Kong is the market best aligned with the company’s global expansion plans, given its business, geographic footprint and long-term ambitions.
JFCI will hold Jollibee’s businesses outside the Philippines, while JFC will retain its local operations and remain listed on the Philippine Stock Exchange.
The proposed separation would create two independently listed companies, allowing the domestic and international businesses to set their own strategic priorities and allocate capital independently.
Ahead of the proposed separation, the company has appointed Richard Chong Woo Shin as CEO of JFCI. “The appointment of Richard to lead JFCI is another important step in establishing the company for its next phase,” Caktiong added.
Shin will take on the CEO role full-time once the separation is completed. Until then, he will continue as Jollibee’s Chief Financial and Risk Officer.
