Jollibee [JFC 260.00, down 1.5%] [link] announced its plan to sell an additional 5 million to 8 million preferred shares at P1000/share, in a follow-on offering to raise between P5 billion and P8 billion. The preferred shares will be offered as a 2nd tranche of its existing shelf registration for 20 million preferred shares; JFC sold 12 million shares under its first tranche (Series A and Series B) back in 2021. JFC said that it would use the money raised to “maintain strong capital structure, robust leverage position, and optimize liquidity” by “managing maturities of financial obligations.”