The Philippine Securities and Exchange Commission approved Top Line Business Development Corp.’s shelf registration of up to 150 million preferred shares, subject to compliance with remaining requirements. The listed commercial fuel trader plans to raise up to PHP 1.5 billion in the initial tranche. Top Line will offer up to 10 million shares at PHP 100 each, with an oversubscription option for five million additional shares. It expects net proceeds of about PHP 1.47 billion if the option is fully exercised, which it will use for working capital, depot construction and renovation, and general corporate expenses. The offer period is scheduled for May 19 to June 1, with issuance and listing on the Philippine Stock Exchange’s Main Board planned for June 11.
2026-04-29Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission clears Top Line preferred share offering of up to PHP 1.5 billion
The Philippine Securities and Exchange Commission cleared Top Line’s shelf registration of up to 150 million preferred shares, subject to remaining requirements. The initial tranche could raise up to PHP 1.5 billion, with issuance and listing planned for June 11.