what part of "the shareholders own the company and they vote to increase the shares" don't you understand.
the board of directors can elect to increase the shares but it has to be voted on by the owners of the company, the shareholders.
what they want might make sense to improve liquidity but there is procedure to follow to its shareholders.
once a company goes public they can no longer do what they please. they now have investors (shareholders) and they have to legally petition its shareholders for any change in share structure.