Key Takeaways:
Philippine fast-food chain Jollibee is considering shifting the listing venue for its international business spin-off from the US to Hong Kong, according to people familiar with the matter.
"The company is working with advisers with an aim to complete the listing as early as before the end of next year," one of the people said, asking not to be identified discussing private deliberations. The deliberations remain at a preliminary stage and the plans may still change, the people added.
Jollibee's Manila-listed shares have fallen about 25 percent this year, reducing its market cap to approximately $2.5 billion. The group operates 24 outlets in Hong Kong, where it has strong appeal among the local Filipino community, and also owns the dim sum chain Tim Ho Wan.
A Hong Kong listing would give Jollibee access to deeper capital pools in Asia as it expands its overseas operations, competing directly with McDonald's Corp. and Yum! Brands Inc. The company has been rapidly building its international footprint, with the spin-off designed to unlock value from its global business separate from its dominant Philippine home market.
The shift to Hong Kong from the US reflects a broader trend among Asian companies reassessing their listing destinations amid geopolitical tensions and valuation gaps between markets. Hong Kong has seen a pickup in IPO activity this year, with several Southeast Asian companies choosing the city for its proximity to regional investors and deep pool of Chinese capital.
This article is for informational purposes only and does not constitute investment advice.
