LISTED firm Top Line Business Development Corp. is preparing a major capital-raising exercise next year after shareholders approved the reclassification of 800 million unissued common shares into preferred shares, a move aimed at strengthening the Cebu-based fuel company’s balance sheet and accelerating expansion plans.
The approval, secured during a special stockholders’ meeting on Dec. 2, 2025, also authorizes the board to pursue fundraising options, including a private placement, follow-on offering or debt issuance.
“Our growth trajectory is clear and compelling,” chairman and chief executive officer Eugene Erik Lim said, noting that preferred share issuance would offer fixed dividends to investors while giving the company financing flexibility. Funds raised will support direct fuel importation through subsidiary Topline Logistics and Development Corp., which is expected to improve pricing, stabilize supply and widen margins.
Top Line also plans to expand depot infrastructure and storage capacity to accommodate higher import volumes and bolster the rollout of its retail fuel arm, Light Fuels Corp., across the Visayas region.
“These initiatives aim to enhance operational efficiency, reduce landed and operating costs, and improve profitability,” Lim said, adding that the strategy will help the company capture more value along the fuel supply chain. / KOC