After the disclosure, Jollibee Food Corporation's share prices shot up by 8.02% in just one morning. Since JFC is a high-priced stock to begin with, that's a huge leap!
Things are looking up, up, up for Jollibee
This was probably what Jollibee had planned to do all along, right after they decided to give up Delifrance.
Mang Inasal has been preparing itself for its own IPO (initial public offering) to fund its aggressive target of 500 outlets nationwide. The offer from Jollibee, though a little sooner than expected, seemed too much to resist. And why would anyone turn away from a 3B-peso offer from a company that has a solid track record of making a profitable company even more profitable?
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