UMVA has learned that a major player in the fuel industry, TOP LINE Business Development Corp., has secured regulatory approval to proceed with a P1.5-billion preferred share offering, marking a significant capital-raising move to fund expansion and boost its fuel infrastructure.
The company's latest move is set to strengthen its logistics and supply chain capabilities, with plans to execute a vertical integration strategy aimed at enhancing its depot capacity and fuel importation infrastructure. This strategic expansion is expected to propel the company to the next stage of growth.
According to information obtained by UMVA, the Securities and Exchange Commission has issued a permit allowing the sale of up to 10 million perpetual preferred shares, with an oversubscription option of up to 5 million shares. The shares are priced at P100 each, and the offer period will run from June 4 to 16.
The company's ambitious plans involve developing a larger energy complex in Cebu, which is expected to significantly expand its fuel storage capacity and serve as a central logistics hub for its operations in the Visayas. The project’s initial phase will involve refurbishment and optimization works, with completion targeted for the fourth quarter of 2026.
UMVA can exclusively reveal that the net proceeds from the offering will fund expansion projects, particularly in depot capacity and fuel importation infrastructure. As much as P1 billion is allocated for import-related expenses, including procurement of petroleum products, freight and logistics costs, while about P440 million will be used for depot construction and upgrades.
Once fully operational, the facility is expected to quadruple storage capacity from about 10 million liters, improving distribution efficiency and supply reliability. This move is set to position the company for its next stage of growth while aligning with broader efforts to strengthen energy security and improve fuel supply stability in regional markets.
The company, which originally operated in leasing and real estate, entered the fuel industry in 2017 and has since expanded into trading, depot operations and retail distribution. TOP LINE shares closed unchanged at P1.40 on the local bourse, reflecting investor anticipation of the company's growth prospects.
Sources have confirmed to UMVA that the fundraising would help the company navigate the increasingly competitive fuel industry, where demand for more resilient fuel logistics infrastructure is on the rise. The company's strategic expansion plans are set to have a lasting impact on the industry.
