Jollibee has grown into the biggest fast-food company in the
Jollibee has grown into the biggest fast-food company in the Philippnes. ROMEO GACAD/Getty Images

Jollibee Foods Corp told the Philippine Stock Exchange on Tuesday it is contemplating listing its international arm on the Hong Kong Stock Exchange's main board, abandoning a plan announced in January to list the unit in the US.

The vehicle, Jollibee Foods Corporation International (JFCI), holds the group's overseas brands, including Hong Kong dim sum chain Tim Ho Wan, US burger chain Smashburger and The Coffee Bean & Tea Leaf. JFC chairman Tony Tan Caktiong said the company had spent the months since its January 6 US-listing announcement doing the detailed work to establish two independent companies, and that work "reinforced our conviction in the listing and has led us to conclude that Hong Kong is the market best aligned with JFCI's business, geographic footprint and long-term ambitions." Philstar.com

The company said Hong Kong represents a natural market for JFCI given the depth of its existing presence and brand recognition across Asia, and that the exchange gives access to a broad base of global and regional investors to support ambitions extending beyond Asia, including continued growth in North America. Philstar.com

Tim Ho Wan opened in Hong Kong's Sham Shui Po in 2009 and earned a Michelin star the following year before Jollibee took full ownership of the chain in 2024. Jollibee, the group's flagship fried-chicken and spaghetti brand, has run stores in Hong Kong since 1996 and now counts 28 outlets across Hong Kong and Macau, a footprint that has grown on the strength of the city's Filipino community alongside broader local demand. Philstar.com

Jollibee also named its chief financial and risk officer, Richard Chong Woo Shin, as JFCI's chief executive. He will keep his current roles at Jollibee Group until the separation completes, then move to JFCI full-time. Manila BulletinManila Bulletin

JFC first disclosed the planned spin-off on January 6, targeting a US listing "by late 2027," subject to market conditions, regulatory approvals and internal reorganisation. The venue has since changed; the timeline as previously stated has not. Tuesday's filing describes Hong Kong as the venue the company is now pursuing, not a completed listing — JFCI's shares are not yet trading anywhere, and the switch itself does not accelerate the timetable. Malaya

The reversal follows a report from Bloomberg in June that Jollibee was weighing a move to Hong Kong, which the company at the time said only that it was "evaluating various strategic options" and had made no final decision. Tuesday's disclosure is the company's own confirmation of that shift.

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