McDonald’s Rival Jollibee Soars on Plan to List Global Unit (1)

Jollibee Foods Corp. will spin off its international business and list it on a US stock exchange as the Philippine fast-food group plots its global expansion, an announcement that fueled its shares’ largest single-day surge since 2008.

Jollibee, which increasingly is taking aim at global fast-food giants such as McDonald’sand Yum! Brands Inc. from Los Angeles to Ho Chi Minh City, said Tuesday said it has hired international and local advisers to work on the spinoff and potential US listing. Jollibee Foods Corporation International would include all of the company’s businesses outside its home market, the company said in ...