Jollibee Foods Corp. (JFC) disclosed that affiliate Hyper Dynamic Corp. acquired additional shares in the company through a series of market transactions to boost its stake in the country’s largest fast-food operator.

In a filing with the Philippine Stock Exchange on Wednesday, JFC said the transaction involved the “Acquisition of Shares by an Affiliate,” with the disclosure noting that “Hyper Dynamic Corp. acquired JFC shares.”

The affiliate purchased a total of 30,000 shares at prices ranging from P133.00 to P135.70 apiece. Based on the transaction prices disclosed, the share acquisitions were valued at approximately P4.03 million.

Following the purchases, Hyper Dynamic’s total holdings in JFC climbed to 486.8 million shares, equivalent to 43.44 percent of the company’s outstanding shares.

Last week, JFC said it would review its expansion plans and capital spending after first-quarter net income fell 38.8 percent to P1.47 billion due to higher commodity and supply chain costs.

While sales remained strong, rising input costs hurt margins and dragged operating income down 18.2 percent to P3.95 billion.

The company said it is reassessing store openings and spending plans while implementing measures such as selective price hikes, sourcing initiatives, and tighter cost controls.