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

The parent company of Philippine fast-food giant Jollibee plans to spin off and list its international operations in Hong Kong instead of 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 arm, Jollibee Foods Corporation International (JFCI), in the United States. The company has now selected Hong Kong as its listing destination. “Hong Kong offers the market depth...