McDonald’s Rival Jollibee Soars on Plan to List Global Unit

Core Viewpoint - Jollibee Foods Corp. plans to spin off its international business and list it on a US stock exchange to enhance its global expansion strategy, resulting in a significant surge in its share price [1][3]. Group 1: Business Strategy - The spinoff will create two distinct listed entities, allowing for sharper strategic focus and clearer equity narratives for each business [4]. - The international business will encompass all operations outside the Philippines, while the domestic unit will remain listed on the Philippine Stock Exchange [2]. Group 2: Financial Impact - Jollibee shares rose by 14.5%, marking the largest single-day increase since October 2008, and the company was the top performer in the Philippines' stock index [3]. - The international segment accounted for approximately 43% of Jollibee's revenue of 224.2 billion pesos ($3.8 billion) from January to September, up from 28% in 2019 and 21% in 2017 [8]. Group 3: Market Position - Jollibee is actively competing with global fast-food giants like McDonald's and Yum! Brands, having completed 27 cross-border deals worth around $1.1 billion since 2000 [7]. - The company operates 10,304 stores as of September, with 6,859 located overseas across more than 30 countries [8].