The Philippines' largest fast-food chain, Jollibee Foods Corp. is weighing a listing on the Hong Kong stock exchange over the United States, according to a report by Seoul Economic Daily on Tuesday.
The report, citing unnamed sources, said the move is part of Jollibee's strategy to expand its presence in Asia and tap into Hong Kong's deep capital markets. Jollibee, which operates over 5,800 stores globally, has been aggressively expanding outside the Philippines, with a focus on China, the U.S., and Europe.
A Hong Kong IPO would allow Jollibee to attract investors familiar with the Asian market and potentially benefit from closer proximity to its growth markets. The company has not confirmed the report, and plans may still change depending on market conditions.