<2> Philippine Tycoon Tony Tan Caktiong’s Jollibee-Backed Highlands Coffee Mulls Vietnam IPO
The proposed listing of Highlands Coffee, a Vietnamese coffee chain backed by Jollibee Foods, a Philippine-based fast-food giant, is gaining momentum. This move comes as Jollibee Foods is looking to separately list its international businesses in the U.S. by next year.
<3> Highlands Coffee’s IPO Plans
Highlands Coffee, which has over 100 outlets across Vietnam, is reportedly considering a listing on the Ho Chi Minh Stock Exchange (HOSE) in Vietnam. The proposed IPO is expected to raise around $100 million, which will be used to expand the company’s operations and improve its coffee offerings.
<3> Jollibee’s International Expansion Plans
Jollibee Foods, which is led by Philippine tycoon Tony Tan Caktiong, has been expanding its international presence in recent years. The company has a significant presence in the U.S., with over 30 outlets across the country. Jollibee Foods is looking to list its international businesses in the U.S. by next year, which will give investors a separate listing for its international operations.
<3> Market Reaction
The proposed listing of Highlands