Philippine group Jollibee Foods has changed its plan for the listing of its international division. Instead of the previously considered New York market, it intends to list Jollibee Foods Corporation International in Hong Kong.
The company points to market depth and access to global and regional investors. Its international business aims to expand not only in Asia but also across North America and other regions.
Hong Kong is trying to diversify new listings with more companies from Southeast Asia. More than 150 businesses from the region are already listed in the city and have raised over 4.3 billion dollars in total, according to the exchange operator.
Choosing a venue is an important step, not a completed flotation. The company still needs to submit detailed documents, pass the review process and determine the size and price of the offering.
