Top Line Business Development Corp. (stock symbol: TOP), a company that sells and distributes fuel in Cebu and the Visayas region, has received approval from two important government offices to raise money by selling special shares to investors.

According to a press release issued on April 29, 2026, the company got permission from both the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) to offer what are called “perpetual preferred shares” worth up to P1.5 billion.

What Is TOP Selling?

Think of shares like small pieces of a company that people can buy. TOP is planning to sell a special type of shares called “perpetual preferred shares.” Here’s what they’re offering:

• Main offering: Up to P1 billion worth of shares (that’s 10,000,000 shares)
• Extra shares if many people want to buy: Up to P500 million more (that’s 5,000,000 additional shares)
• Price per share: Up to P100 each

When Will This Happen?

The company shared these important dates:

• April 28, 2026: SEC gave preliminary approval
• April 29, 2026: PSE Board of Directors approved the listing application
• May 19 to June 1, 2026: Period when people can buy the shares
• June 11, 2026: Shares will be officially listed on the stock exchange

Why Does TOP Need This Money?

Eugene Erik Lim, who is the Chairman, President, and CEO of TOP, explained that the company wants to grow bigger and stronger. The money raised will be used to improve how the company operates, specifically:

• Expanding their ability to import fuel directly (instead of buying from others)
• Building more storage facilities called “depots” where they can keep fuel
• Making their supply chain more stable and reliable
• Improving profit margins across their fuel distribution and retail businesses

Mr. Lim said this represents “the next chapter in Top Line’s growth story” and will help them build a business that can better serve customers and support expansion across the region.

About Top Line Business Development Corp.

TOP is based in Cebu City and focuses on the fuel business in the Visayas region. The company has two subsidiary companies:

1. Topline Logistics and Development Corp. – handles importing, trading, and distributing petroleum products
2. Light Fuels Corporation – operates retail fuel stations

The company operates with 10,742,193,000 common shares currently outstanding, according to the disclosure form.

Who Is Helping With This Offering?

TOP has hired professional companies to help manage this stock offering:

• PNB Capital and Investment Corporation – serving as the sole issue manager
• Security Bank Capital Investment Corporation – working together with PNB Capital as joint lead underwriters and joint bookrunners

These companies help organize the sale and make sure everything follows the proper rules and procedures.

This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.