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Foreign investors may now have a large stock of Jollebee Foods Corporation (JFC) after the Philippines Stock Exchange (BSE) approved the demand for the elimination of a 40% foreign owner limit.
“The JFC has been asked to edit the BSE his foreign owner limit to 40% from the first limit.
This action follows its coordination articles in its coordination articles, eliminating its ability to own, receive, mortgage, pledge or land.
With this amendment, the JFC can now accommodate more foreign investors because it is no longer capable of owning the land. The land -holding companies must comply with the foreign rights fixed by the Constitution.
Article 12 of the 1987 Constitution controls the land and the foreign rights of some businesses, and the remaining 60% is allocated to citizens or corporations. However, the government has relaxed foreign ownership restrictions in some industries such as renewable energy, which allows you to invest in foreign investment.
The Bonds and Transaction Authority (SEC) approved the amendment of the JFC in November last year.
In May last year, the JFC said the revision was eliminated the ability of the real estate directly, but it retained the ability to invest in land and other real assets.
Following regulatory approval, stock market inspectors expect JFC to sell its land assets, while attracting more foreign investors.
JFC shares rose 10.72% on Thursday or P22.40 to B262.40.
“This will provide some positive motivation to the company. We told reporters during an interview in Magadi on Thursday that it works with stock price.”
AB Security, Inc. Research Analyst Jose Antonio B.
“They can be used to expand their current shops from the sale of the land, which will be translated to high income. This is a choice of play, because the correction can lead to the speedy capital praise of the stock, because its basic value is finally recognized by a large market,” he said.
“This will allow more foreign investors to attract more foreign investors through more foreign rights,” he said.
China Bank Capital Corporation Managing Director Juan Pavlo E. In a Viper message, Colot said the move is in line with JFC’s global expansion plans.
“Eliminating the owner’s control leads to the participation of more foreign role in the company in the company. This is compatible with the ambition of JFC to be a leading player in the global restaurant industry,” he said.
“There is no national cap and if they have to get a substantial foreign equity capital for their expansion, they give them a lot of headrooms,” he said.
JFC’s action follows recent acquisitions aimed at expanding its brand portfolio.
In January, JFC subsidiary Milkshab International Co.
Hong Kong -based Tim Sum Restaurant Tim Ho Van has recently completed the purchase of S $ 20.2 million to take full control.
In July last year, JFC announced that it would buy South Korea’s music for $ 340 million to strengthen its coffee and tea business.
For the first nine months of 2024, the JFC’s cause was up 24.1% to P8.47 billion, while revenue increased by 10.6% to P196.25 billion.
At the end of September last year, JFC expanded its store network to 9,598 places by 42.8%, including 3,340 domestic stores and 6,258 international branches.
In its international stores, JFC operates 568 in China, 381 in North America, and 362 throughout Europe, the Middle East, Africa and Asia. It is 815 under the Highlands Coffee, 1,219 under the coffee bean & tea leaf, 333 under the Milkshah, and 2,580. – Revin Michael D. Ocheve
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