Fast-food giant Jollibee eyes global expansion with planned US listing

Move to spin off and list international arm could open access to deep pools of capital

- Mara Cepeda

Jollibee, the Philippine fast-food giant famous for its crispy fried chicken, has set its sights on conquering more overseas markets.

On Jan 5, Jollibee Foods Corporation announced plans to spin off and separately list its international business in the US, an ambitious move that could potentially open access to deep pools of capital to fund its global expansion.

"A US listing is a game changer for Jollibee," said Filipino business strategist Jonathan Ravelas. “It gives the brand global visibility and credibility, which matters in competitive markets like the US."

Mr Ravelas, who now runs his own advisory firm after previously serving as chief market strategist at BDO Unibank, told The Straits Times that the plan signals Jollibee's intention to position itself as a global growth player, rather than just a domestic food company with overseas sidelines.

Another analyst, Mr Juan Paolo Colet, managing director of Manila-based Chinabank Capital Corporation, told local newspaper Manila Bulletin that the planned US listing is a "novel" strategy for Jollibee, one that could potentially benefit existing shareholders.

Jollibee already has a significant global footprint, including operations in Singapore, where it runs more than 20 outlets alongside other brands such as The Coffee Bean & Tea Leaf and Smashburger.

The group operates hundreds of stores across Asia, North America and the Middle East, making overseas markets an increasingly important part of its business.