Jollibee Foods Corporation has abandoned plans to list its international business on a U.S. exchange and will instead pursue a Hong Kong initial public offering for Jollibee Foods Corporation International, or JFCI. The unit will hold all operations outside the Philippines, while Jollibee retains its domestic business and Philippine Stock Exchange listing. Richard Shin, the parent company's group chief financial and risk officer, will become JFCI's chief executive officer while keeping his current responsibilities. Jollibee described Hong Kong as a natural market because of its investor base, liquidity and the brand's established presence across Asia, but did not explain why the U.S. plan was dropped. JFCI will focus on overseas growth in North America, China, Vietnam and other markets. The move comes as Hong Kong's IPO proceeds have exceeded $45 billion in 2026, with Hong Kong Exchanges & Clearing chief executive officer Bonnie Chan saying the market could surpass its 2010 record of $57.8 billion. Jollibee shares were indicated up 1.87% in the earlier market update.