Why Jollibee is turning to a U.S. IPO to fuel global growth [Yahoo! Finance]
JOLLIBEE FOODS UNSP/ADR (JBFCY)
NASDAQ:AMEX Investor Relations:
jollibee.com.ph/investors
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Source: Yahoo! Finance
Now, the company is setting its sights on Wall Street. The Philippines-based Jollibee Foods Corporation (JFC), the restaurant's parent company, disclosed earlier this month that it plans to spin off its international operations and pursue a U.S. initial public offering for that business. The contemplated spin-off and listing are targeted for late 2027, leaving “quite a bit of time ahead of us for the work to be done,” its global chief financial officer, Richard Shin, said during a Jan. 14 media roundtable. JFC, which includes restaurant brands such as Smashburger and The Coffee Bean & Tea Leaf, is currently traded as a single group on the Philippine Stock Exchange and operates in 33 countries. Over the past 15 quarters, JFC's international network has posted a 26.7% compound annual growth rate, outpacing the group's overall 15.1% rate of expansion. The separation reflects increasingly distinct strategic profiles for the domestic and international businesses, Shin said. In March
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