Philippines' Jollibee Food's Highlands Coffee evaluates Vietnam IPO
Fast-food restaurant operator Jollibee Foods Corp said on Wednesday that its Vietnamese coffee chain, Highlands Coffee, was considering an initial public offering and a subsequent listing in Hanoi.
The company, which holds a 60% stake in SuperFoods Group, which owns Highlands Coffee, said the potential listing would give the coffee platform direct access to Vietnam's growing capital market.
Highland Coffee currently operates nearly 1,000 stores in Vietnam and across Southeast Asia.
In early January, Jollibee had announced plans to spin off its international operations and list it as an independent company on a U.S. securities exchange.
The U.S. spin-off will create two independently listed businesses with distinct strategic focuses and investment profiles, as the Philippine operations will remain listed on the local bourse.
Jollibee expects the Vietnamese listing to be completed in the first quarter of 2027, while the U.S. listing of its international operations is expected to close towards the end of that year.
Reuters
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