Cebu’s Top Line ushers in new era for Visayan businesses
Cebuano entrepreneurial strength took center stage when Top Line Business Development Corp. debuted on the Philippine Stock Exchange (PSE).
It was the bourse’s first listing of the year and the first Cebu-based company in nearly a decade to go public.
The listing last April is more than a corporate achievement – it’s a proud moment for the region, demonstrating how a homegrown enterprise can rise to national prominence while staying firmly rooted in its community.
“Top Line’s listing is not just about raising capital or creating opportunities for growth and innovation – it’s also about inspiring other Cebuano businesses to reach beyond local markets and make their mark on the national stage,” said Eugene Erik Lapasaran Lim, the company’s President and CEO.
From local startup to industry contender
Founded in 2013, TOP quickly seized emerging opportunities and embarked on a path to vertical integration: acquiring tanker trucks, leasing a depot facility, and expanding logistical capabilities.
Today, it has built a strong reputation in the B2B fuel segment, serving hundreds of clients. Its retail distribution arm, Light Fuels, is also expanding and embracing sustainable solutions such as EV-ready stations and solar-powered canopies that reinforce the company’s long-term Environmental, Social, and Governance (ESG) commitments.
“Through our work in both commercial fuel and Light Fuels retail, we are building a sustainable business that drives local economic growth while delivering meaningful value to our stakeholders.”, Lim added.
A meteoric rise on the PSE
On April 8, 2025, TOP raised approximately P732.6 million through its initial public offering.
Within months, its shares skyrocketed over 300 percent from its IPO price of P0.31, indicating investor confidence and trust in the company’s growth trajectory.
In an industry dominated by giants, TOP is setting its mark as a valuable oil company on the PSE.
What’s next for Top Line?
TOP’s IPO serves as a launchpad for bold expansion. The company is strengthening infrastructure and logistics, enhancing supply chain resilience, and acquiring strategic assets.
By investing in top talent and doubling down on vertical integration and diversification, it is positioning itself for long-term growth. TOP is poised to expand its footprint, attract new partnerships, and accelerate its impact across the Philippine fuel and retail sector.
TOP is a powerful example of what homegrown enterprises can achieve, paving the way for a dynamic new era in the region.
