Philippines' Jollibee lists international business spinoff in US
Jollibee Foods Corporation International will include its operations, businesses outside the Philippines.
Jollibee Foods Corporation (JFC) listed its international business as an independent company on the US securities exchange as it plans to separate its international operations from its Philippine arm.
The firm's proposed Jollibee Foods Corporation International (JFCI) will include all operations and businesses outside the Philippines, JFC said in a bourse filing with the Philippine Stock Exchange (PSE).
JFCI will represent a global company that includes a portfolio of international concepts across multiple categories and geographies, it added.
The fast food giant’s Philippine company will remain listed on the PSE.
Once its US firm is established, JFC shareholders may receive shares in JFCI corresponding to their prevailing interest in JFC, the company said.
Shareholders may choose to hold or sell separately, based on their desired investment profile, it added.
JFC said that it has engaged international and local advisors and has commenced work on defining the structure and timing for the separation and potential US listing. The transaction is intended to be executed in late 2027.
The fast food firm will provide further updates as appropriate and in accordance with disclosure requirements.
