Philippine fast-food giant Jollibee picks Hong Kong over New York for spin-off listing

The parent company of Philippine fast-food giant Jollibee plans to spin off and list its international operations, choosing Hong Kong over New York in a strong endorsement of the city’s initial public offering (IPO) diversification efforts. Jollibee Foods Corp (JFC) said in January that it intended to list its overseas

MANILA -- When Jollibee Foods Corp. first opened outlets overseas in the mid-1980s, its primary revenue engine was the Filipino diaspora longing for a taste of home. Today, the Manila-headquartered fast-food titan with over 10,700 stores covering 20 brands in 33 countries is making a bolder bet: winning over non-Filipi