Jollibee Foods, the parent company of the Tim Ho Wan dim sum chain, has announced plans to spin off and list its international business on the Hong Kong stock exchange. The entity to be listed will be Jollibee Foods Corporation International (JFCI), and following the separation, both Jollibee Foods and JFCI will operate as independent publicly traded companies, with existing shareholders receiving JFCI shares proportional to their current holdings.
According to the company, preparatory work across corporate structure, governance, financing, systems, and organization has been completed since the spin-off initiative began in early 2026. These steps are intended to ensure that both the Philippine and international segments can grow independently with operational flexibility moving forward. Tony Tan Caktiong, Chairman of Jollibee Foods, said Hong Kong best aligns with the company's business development, geographic footprint, and long-term objectives, offering an ideal market environment and a quality investor base that will help highlight JFCI's unique business value and growth potential.
In a concurrent announcement, the company revealed that Richard Shin has been appointed as Chief Executive Officer of the proposed spin-off entity JFCI. Shin currently serves as Jollibee Foods' Chief Financial and Risk Officer and CEO of Jollibee International, bringing three decades of international financial and business leadership experience spanning consumer and retail industries. His career includes senior roles at multinational corporations such as William Grant & Sons, Ralph Lauren, Bacardi, and Altria.
Jollibee Foods, already listed on the Manila stock exchange in the Philippines, marks the country's second multinational enterprise following San Miguel Brewery. The company has aggressively expanded overseas in recent years, and its brand portfolio extends beyond the flagship Jollibee fried chicken chain to include Smashburger and Coffee Bean & Tea Leaf, with operations spanning the US, Canada, the Middle East, Europe, and other regions. Currently, Jollibee operates 24 outlets in Hong Kong and maintains a strong presence within the Filipino community there.
Reports indicate that to sharpen its business focus, the company had previously explored listing its international arm on a US exchange. However, in June of this year, news emerged of a potential shift toward a Hong Kong listing, with the earliest possible completion of the listing process expected by the end of next year.
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