CEBU-BASED Top Line Business Development Corp. said its fuel supply remains stable with sufficient inventory to meet demand.
“Top Line’s fuel supply remains stable, with approximately three to four weeks of inventory available,” said president and chief executive officer Eugene Erik Lim. “We continue to work closely with our suppliers and are actively monitoring the situation. For now, supply is steady and adequate to support both our operations and customer demand.”
The publicly listed company is the owner of the retail fuel chain Light Fuels.
The company’s assurance comes as it ramps up efforts to reinforce its downstream operations through a follow-on offering aimed at funding vertical integration initiatives.
In a recent disclosure to the local bourse, Top Line said it has filed with regulators for the issuance of up to P1.5 billion in perpetual preferred shares, including an oversubscription option, with an indicative price of up to P100 per share.
Proceeds from the planned offering will be used to support direct fuel importation, expand depot and storage infrastructure and grow its retail network — key components of its long-term integration strategy.
The company said these investments will allow it to improve procurement flexibility and stabilize supply, while enhancing margins across its fuel distribution business.
Top Line is also strengthening its importation capabilities through its subsidiary and a newly established trading presence in Singapore, positioning the firm to capture more value across the supply chain.
The offer period is tentatively scheduled from May 19 to June 1, 2026, subject to regulatory approvals, with dividend rates to be determined via book-building.
Company officials said the fundraising builds on momentum from its previous capital market activities and is expected to support continued expansion, particularly in the Visayas market. / KOC