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Jollibee Foods Corp marks listing of preferred shares at PSE

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Jessica Fenol, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="The Jollibee mascot joins officials at the PSE trading floor. Screenshot" src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/news/10/14/jollibee.jpg"/><figcaption>The Jollibee mascot joins officials at the PSE trading floor.<em> Screenshot</em></figcaption></figure></div><p>MANILA— Jollibee Foods Corp on Thursday marked the listing of its follow-on offering of preferred shares on the Philippine Stock Exchange. </p><p>The offer consists of 8 million cumulative, non-voting, non-participating, non-convertible and redeemable perpertual preferred shares with an oversubscription option of up to 4 million shares at P1,000 per share, the homegrown brand said in its filing with the Securities and Exchange Commission. </p><p>The preferred shares will be issued in 2 tranches, namely Series A preferred Shares and Series B preferred Shares, the document said.</p><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1800056" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><p>With the exercise of the oversubscription option, the gross proceeds of the offer is at P12 billion, the company said. </p><p>Proceeds will be used for the partial buyback of senior perpetual securities as well as for capital expenditure for commissary operations and new store expansions, JFC said.</p><p>This listing of preferred shares is not only the first for JFC but also the first for the food service industry in the Philippines, its president and CEO Ernesto Tanmantiong said during the virtual event.</p><p>&quot;Today we list our first-ever preferred shares on the Philippine stock exchange with the conviction that the future of Jollibee Group of Companies is even brighter,&quot; Tanmantiong said.</p><p>Since its public listing in 1993, JFC has seen significant growth with 17 brands, operating in 34 countries with over 5,800 stores globally, he said.</p><blockquote class="twitter-tweet"><p dir="ltr" lang="en">JFC Chairman Tony Tan Caktiong during the group’s Philippine Stock Exchange preferred shares listing ceremony <a href="https://t.co/1oFaUSEeEF">pic.twitter.com/1oFaUSEeEF</a></p>— Jessica Fenol (@JessFenol) <a href="https://twitter.com/JessFenol/status/1448457525926322176?ref_src=twsrc%5Etfw">October 14, 2021</a></blockquote><div><script async="" src="https://platform.twitter.com/widgets.js" charSet="utf-8" type="text/javascript"></script></div><p>Tanmantiong said the PSE had given a &quot;significant contribution&quot; to this growth. </p><p>Meanwhile, PSE chairman Jose Pardo said the stock exchange is always open to help listed firms raise funds. <br/> <br/>&quot;This follow-on offer of JFC is a reminder to all listed companies that may need funds for capital expenditure that the stock market will always be an available avenue for capital raising,&quot; Pardo said. </p><p>Despite the impact of the COVID-19 pandemic to the restaurant industry, there is no stopping JFC from growing, Pardo aid.</p><p>The country&#x27;s largest restaurant operator, among the fastest-growing in Southeast Asia, earlier said it plans to open 50 stores in Europe in the next 5 years.</p><p>It recently opened stores in London, Spain, US and Canada.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/04/06/21/jollibee-uk-50-stores-5-years-europe">Chickenjoy wins over UK: Jollibee eyes growth in Europe with 50 stores in 5 years</a></li>	<li><a href="https://news.abs-cbn.com/business/05/24/21/jollibee-6-more-stores-sells-4000-chickenjoy-london-opening">Jollibee sells over 4,000 Chickenjoy on London opening day</a></li>	<li><a href="https://news.abs-cbn.com/business/09/24/21/thousands-flock-opening-of-jollibees-first-store-in-spain">Jollibee says thousands lined up at opening of first Spain outlet</a></li></ul>

Jollibee Foods Corp on Thursday marked the listing of its follow-on offering of preferred shares on the Philippine Stock Exchange. 

Jollibee Foods Corp marks listing of preferred shares at PSE

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Jollibee Foods Corp marks listing of preferred shares at PSE

Jessica Fenol,

ABS-CBN News

Published Oct 14, 2021 11:21 AM PHT

|

Updated Oct 15, 2021 10:33 AM PHT

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Jollibee Foods Corp

JFC

JFC follow-on offering

preffered shares

PSE

PSE listing

chickenjoy

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