Jollibee chooses Hong Kong over New York for International operations listing
The Philippine fast-food giant says Hong Kong’s deep capital markets and access to global and regional investors better support its international growth ambitions.
CHINA – Jollibee Foods Corp has selected Hong Kong as the preferred listing venue for its international operations arm, reversing plans announced earlier this year to pursue a listing in New York.
The Philippine fast-food operator said in January that it would seek a US listing for Jollibee Foods Corporation International (JFCI). However, the company announced on September 1 that it had chosen Hong Kong as its preferred market.
Jollibee cited Hong Kong’s market depth and access to a broad base of global and regional investors as factors behind the decision. The city’s exchange also provides access to regional institutional capital and a trading environment familiar with Asian consumer brands operating across multiple markets.
“Hong Kong offers the market environment and investor relevance to support JFCI’s long-term ambitions,” Jollibee said in a statement.
The company did not provide further details on why it abandoned the US listing plan but said Hong Kong would provide access to a broad investor base.
Hong Kong has increasingly positioned itself as a listing destination for Southeast Asian companies seeking international capital while remaining close to their core markets.
Proceeds from Hong Kong initial public offerings have exceeded US$45 billion in 2026, according to Bloomberg data, making it the city’s third-best year on record.
Hong Kong Exchanges and Clearing chief executive Bonnie Chan said the market was on track to surpass the record US$57.8 billion raised in 2010.
For Jollibee, the listing decision comes as the group continues expanding internationally. The company operates more than 1,500 stores across 17 countries, with significant operations in Asia and the Middle East.
Its portfolio includes the flagship Jollibee chain, Chinese fast-food brand Yonghe King, Vietnamese coffee chain Highlands Coffee and stakes in US burger brand Smashburger.
Jollibee also announced that Chief Financial and Risk Officer Richard Shin will serve as JFCI chief executive.
The company began as a small family business selling ice cream on the streets of Manila in the 1970s before developing into a multinational restaurant group. It is known for products including sweet spaghetti and fried chicken.
Today, Jollibee’s portfolio comprises 20 brands with more than 10,700 stores and cafés across 33 countries, including the United States, China, Vietnam and Canada.
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