Jollibee Foods Corporation (PSE: JFC) has announced an exciting plan for one of its most successful businesses. According to a press release filed with the Philippine Stock Exchange on March 4, 2026, the Board of Directors of its subsidiary Highlands Coffee is evaluating the planned initial public offering (IPO) of Highlands Coffee, which is Jollibee’s Vietnamese coffee business.
What Does This Mean?
Think of it like this: When you have a really successful lemonade stand that’s part of your family business, you might decide to turn it into its own separate business that other people can invest in. That’s basically what Jollibee is planning to do with Highlands Coffee.
An IPO (Initial Public Offering) means that Highlands Coffee would become its own company listed on Vietnam’s stock market. This would allow regular Vietnamese people to buy shares in the coffee chain, just like how Filipinos can buy shares in Jollibee on the Philippine stock market.
Why Highlands Coffee Is a Big Success Story
Highlands Coffee has become a remarkable success for Jollibee. Since JFC’s investment in 2012, the brand has expanded significantly from 56 stores at the time of acquisition to nearly 1,000 stores today. That’s almost 18 times bigger in about 14 years!
The company describes Highlands Coffee as “the undisputed #1 coffee chain in Vietnam”, making it one of Jollibee’s most successful investments. The coffee chain has grown from a small business to a major player in Vietnam’s coffee market.
Why List in Vietnam Instead of the Philippines?
The proposed IPO is intended to support Highlands Coffee’s next phase of growth by providing direct access to capital markets, elevating its corporate profile, and enabling greater strategic and operational focus as Vietnam’s leading coffee brand.
Vietnam’s stock market has been growing rapidly. Vietnam’s equity market liquidity has been among the fastest-growing in the region, supported by accelerating retail investor participation. The country is targeting approximately 9 million retail investor accounts by 2025 and 11 million by 2030, showing that more and more Vietnamese people are interested in buying stocks.
When Will This Happen?
According to the announcement, the transaction, with target completion by the first quarter of 2027, will be subject to prevailing market conditions, completion of appropriate steps including diligence and internal restructuring, and securing all required regulatory and legal approvals.
In simpler terms, Jollibee is aiming to complete this by early 2027, but it depends on many factors like market conditions and getting all the necessary government approvals. The company notes that there’s no guarantee the IPO will definitely happen—it’s still being evaluated and planned.
About Jollibee Foods Corporation
Jollibee Foods Corporation is one of the largest restaurant companies in the world. The company manages 19 different food brands with over 10,000 stores across 33 countries. Besides the famous Jollibee fast-food chain, the company owns other popular brands including Chowking, Greenwich, Red Ribbon, Mang Inasal, The Coffee Bean and Tea Leaf, Compose Coffee, and Highlands Coffee, among others.
This planned IPO represents Jollibee’s strategy to unlock value from its successful international investments while giving those brands the freedom and resources to grow even further in their home markets.
Source Note:
This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
