Top Line Business Development Corp. (TOP) has secured shareholder approval to reclassify 800 million unissued common shares into preferred shares and authorize its board to pursue new capital-raising activities. The decision was reached during the company’s Special Stockholders’ Meeting on December 2, 2025.

TOP said the planned fundraising will support its expansion in fuel importation and storage, particularly through its subsidiary Topline Logistics and Development Corp. The company aims to upgrade depot facilities, increase storage capacity, and boost its ability to bring in larger fuel volumes for the Visayas market.

The company also plans to use part of the funding to grow its retail network through Light Fuels Corporation. The expansion is expected to help improve fuel availability, strengthen supply stability, and enhance efficiency across its distribution chain.

TOP President and CEO Eugene Erik Lim said the plan aligns with the company’s long-term goals. “These preferred shares provide steady returns through fixed dividends,” he said, adding that the initiatives support TOP’s vertical integration strategy and will “create greater long-term value” for shareholders.

As TOP prepares to launch its capital-raising efforts, what developments would you like to see in the region’s fuel supply and retail sector?

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