Top Line sets IPO price at P0.31 per share

Top Line Business Development Corp. is preparing to launch its initial public offering (IPO) next month. This will make it the first company to enter the stock market in 2025. The firm, based in Cebu, plans to raise around P732.62 million. The Philippine Stock Exchange announced that Top Line's final offer price is set at P0.31 per share. This price is lower than the initial maximum offer of P0.38 per share. The company will offer 2.15 billion primary common shares. Additionally, there is an option to sell up to 214.84 million secondary common shares. Together, these shares represent a 22-percent ownership stake in Top Line. The company is not only involved in fuel retailing but also has interests in real estate and ports.