Highlands Coffee plans a 2027 Hanoi IPO as part of Jollibee's global expansion strategy.

Highlands Coffee, Vietnam’s largest coffee chain with nearly 1,000 stores, is evaluating an initial public offering on the Hanoi Stock Exchange, aiming for completion by the first quarter of 2027. The move, part of a broader strategy by parent company Jollibee Foods Corp., includes spinning off international operations into a separate entity expected to list on a U.S. exchange by late 2027. The Vietnamese IPO would provide access to growing capital markets amid rising retail investor participation and government targets of 11 million accounts by 2030. The process remains subject to market conditions, regulatory approvals, and internal restructuring.