Shares in fast food chain Jollibee surged by over 14% on Tuesday, its largest jump since 2008, after it announced that it would split its domestic and overseas businesses. The company also hopes to list its international arm in the U.S. by late 2027. Jollibee shares, which trade in the Philippines, rose by an additional 7.6% on Wednesday.
In a statement filed to the Philippine Stock Exchange, Jollibee said the splitting of its two business arms will sharpen the strategic focus of each, allowing investors to differentiate between its “stable, cash-generative Philippine business” and its “higher-growth but more volatile international operations”.
