A Follow-On Offering (FOO) is an issuance of stock shares for an already listed company. It is like a new Public Offering after a company has been listed
Companies perform follow-on offerings for a wide variety of reasons. In some cases, the company might simply need to raise capital to make acquisitions or finance its debt . In others, the company's investors might be interested in an offering to cash out of their holdings. Some companies may also conduct follow-on offerings in order to raise capital to refinance debt during times of low interest rates. You can find the reason for the follow-on offering of a company in their prospectus.
You can find announcements, notices and the prospectus of follow-on offerings in the PSE EDGE website at the Listing Notices section: https://edge.pse.com.ph/