Jollibee shares surge after the Filipino fried chicken chain says it'll list its 'higher-growth but more volatile' global business in the U.S. | Fortune

"Shares in fast food chain Jollibee surged by over 14% on Tuesday, its largest jump since 2008, after it announced that it would split its domestic and overseas businesses. The company also hopes to list its international arm in the U.S. by late 2027. Jollibee shares, which trade in the Philippines, rose by an additional 7.6% on Wednesday."

"Jollibee dominates the Filipino fast food market. In addition to its flagship fried chicken Jollibee, it also operates other brands like barbecue chain Mang Inasal and Chinese chain Chowking, as well as the local franchise for foreign brands like Burger King. Yet the Filipino food chain is now setting its sights on becoming a global powerhouse, competing with the likes of McDonald's and Yum Brands."

"Jollibee opened its first international store in Singapore in 1985, and its first U.S. store in 1998 in Daly City, California, where there was a large Filipino-American population. It has since expanded to 81 stores across fifteen states, including Texas, Florida, Nevada, New York and Washington, adding to a global footprint across Asia, North America, the Middle East, and Oceania. Since the early 2000s, the Jollibee group has also acquired foreign brands, like Smashburger, Tim Ho Wan and Coffee Bean and Tea Leaf."

Jollibee will separate its domestic and overseas businesses to sharpen the strategic focus of each and to allow investors to distinguish between a stable, cash-generative Philippine business and higher-growth, more volatile international operations. The company aims to list its international arm in the United States by late 2027. Jollibee dominates the Filipino fast food market with flagship fried chicken and brands including Mang Inasal, Chowking and the Burger King franchise. International expansion began in 1985 and the firm now operates across Asia, North America, the Middle East and Oceania, with 81 U.S. stores in fifteen states. Over 75% of operating income is earned in the Philippines, while some acquired global brands have struggled with competition and low profitability. Jollibee was founded in 1975 by Tony Tan Caktiong.

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