Philippine Fast Food Giant Jollibee Eyes Overseas Listing For International Operations

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This communicative is portion of Forbes’ sum of Philippines’ Richest 2026. See the afloat database here.

Restaurant tycoon Tony Tan Caktiong is cooking up a scheme to unlock worth astatine his Jollibee Foods, the Philippines’ largest accelerated nutrient outfit by revenue, by spinning disconnected and listing its world business by precocious 2027. While the institution was primitively eyeing a U.S. offering, caller media reports propose that Hong Kong is different option. It’s a challenging clip for Jollibee, which has been buffeted by rising constituent and operations costs arsenic good arsenic proviso concatenation disruptions. In the first quarter, nett profit plunged 39% to 1.5 cardinal pesos ($24 million) though gross was up 9% to 77 cardinal pesos, buoyed by the summation of 181 caller stores, the bulk of them overseas. The fierce description dampened investor sentiment, dragging down Jollibee’s shares astir 40% from a twelvemonth agone arsenic good arsenic Tan’s nett worth, which he shares pinch his family, by astir a 3rd to $2 billion.

From a azygous crystal pick parlor that he founded successful 1975, Tan has grown Jollibee into a worldwide web of complete 10,400 restaurants, two-thirds of which are extracurricular the Philippines. Its portfolio includes 5 home-grown chains specified arsenic Jollibee and Mang Inasal and 15 world brands, including The Coffee Bean & Tea Leaf and Michelin-ranked dim sum purveyor Tim Ho Wan.