Philippine Stock Exchange President and CEO Ramon Monzon (rightmost) and Chief Operating Officer Atty. Roel Refran (leftmost) lead the bell ringing ceremony with Jollibee during the Jollibee Group’s preferred shares listing ceremony held today, October 14, 2021.

MANILA, Philippines. October 14, 2021 – The Jollibee Group listed its first-ever preferred shares on the Philippine Stock Exchange (PSE) on Thursday.

A first not only in the Jollibee Group history, but also in the Philippine food service industry, the listing of its preferred shares marks the successful completion of the company’s follow-on offering of a total of 12 million preferred Shares.

“We are grateful to our investors in Jollibee Foods Corporation—it humbles us to see that our offering of 8 million preferred shares has been oversubscribed by 3.11 times. Thank you especially to the retail investors who accounted for the vast majority of the investments in our preferred shares,” said Jollibee Group President and CEO Ernesto Tanmantiong.

The preferred shares offering is the fifth security issued by the Jollibee Group for investment by the public. “To all our investors, we signify again our commitment to be excellent stewards of your investments in JFC, whether they are shares in JFC Common Stock, US Dollar Senior Perpetual Capital Securities issued in January 2020, US Dollar 5.5-Year and 10-Year Senior Debt Securities in June 2020, or these Peso Preferred Shares,” added Tanmantiong.

Expansion plan

The issuance of preferred shares and the buyback of its USD Perpetual Securities are part of the overall plan to strengthen the Jollibee Group’s balance sheet, especially as the company aims to accelerate its worldwide store expansion in 2022 and beyond.

The Jollibee Group emphasized that the issuance of preferred shares will not change the current cash dividend policy on the company’s common shares, and that it will continue to declare cash dividends equivalent to 33% of net income attributable to common equity holders of the company.

“To all our employees, customers, partners, and stakeholders, thank you for being part of our journey, for believing in us, and moving forward with us. Together with you, we will continue to dream big—not only to be the best in the Philippines, not only to be the best in Asia, but to be one of the Top Five Restaurant Companies in the world,” concluded Tanmantiong.

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(Top Row, L-R) Tony Tan Caktiong, Chairman and Founder of Jollibee Foods Corporation and Ernesto Tanmantiong, President and CEO; (Bottom Row, L-R) Philippine Stock Exchange Chairman Luis Pardo; Commissioners Ephyro Luis Amatong and Kevin Lester Lee of the Philippine Securities and Exchange Commission celebrate the listing of the Jollibee Group’s first-ever preferred shares during the virtual ceremony held today.