Top Line eyes fundraisers in 2026 to support expansion
Top Line Business Development Corp. seeks to power up its expansion through a series of capital-raising activities. These include the conversion of 800 million unissued common shares into preferred shares.
In a disclosure, the Cebu-based fuel retailer also said it had obtained the board of directors’ approval to conduct other funding efforts. This may include a private placement, follow-on offering or debt issuances.
Erik Lim, president and CEO of Top Line, said unlocking new funding sources would support the firm’s “clear and compelling” growth trajectory.
“The issuance of preferred shares provides investors with steady returns through fixed dividends, while allowing us to strengthen our balance sheet and accelerate our vertical integration strategy,” he said.
These financing initiatives are planned for 2026, Lim added.
Fresh capital would help Top Line to import fuel directly through its subsidiary, Topline Logistics and Development Corp. (TLDC). The company hopes to secure better pricing and margins as well as boost its supply stability.
Proceeds from the fundraising activities would also support Top Line’s plan to beef up its depot infrastructure and storage capacity.
Its retail fuel arm, Light Fuels Corp., will also benefit from this as the group moves to increase the latter’s footprint in the Visayas.
“These initiatives aim to enhance operational efficiency, reduce landed cost and overall operating costs and improve our profitability and ultimately creating greater long-term value for our shareholders,” Lim said.
In the first nine months of this year, Top Line reported a 21-percent jump in its profit. This reached P109.57 million from P90.51 million.
