Cebu-based Top Line Business Development Corp. is optimistic about its upcoming initial public offering despite the prevailing market conditions, as it is banking on the projected growth in its market area.According to TopLine president and chief executive officer Eugene Erik Lim, he was guided by an interview of Philippine Stock Exchange president and chief executive officer Ramon Monzon, who said that anytime is the best time for a listing.
Proceeds from the offer will be channeled into depot construction , new fuel tankers , new tank trucks , new retail fuel service stations , reinforcement of working capital , and general corporate purposes .The bookbuilding period started on November 4 and is scheduled to be completed on Friday, November 15, with the pricing expected on Monday, November 18.