Jollibee Foods Corp. plans to spin off its international business and list it on a US stock exchange to fuel global expansion, leading to largest share surge since 2008. The move aims to sharpen strategic focus and provide more targeted exposure for investors.

Jollibee shares closed 14.5% higher after the announcement, the top gainer in the Philippines stock market. With 10,304 stores globally, international business accounts for 43% of revenue, up from 21% in 2017. The company owns brands like Jollibee, Smashburger, and Coffee Bean and Tea Leaf.

The spinoff would allow investors to value the Philippine business separately from international operations. Analysts see potential market value impacts on the domestic unit, but anticipate clearer strategic focus and targeted investor exposure. Shareholders will receive shares in the international business equal to their current holdings.

Read more at Yahoo Finance: McDonald’s Rival Jollibee Soars on Plan to List Global Unit