Top Line postpones planned P3.2-b IPO amid volatile market conditions

📆 18/11/2024 15:52:00
📰 MlaStandard

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Top Line Business Development Corp., a Cebu-based fuel retailer, postponed its planned P3.2-billion initial public offering to first quarter of 2025 amid

volatile market conditions.

Top Line told reporters last week it would proceed with the IPO, which targeted an offer period of Nov. 27 to Dec. 3, 2024, with a listing on Dec. 12, 2024. “We are happy with the reception from our engagement with qualified institutional buyers, reflecting the strong fundamentals and positive prospects for the fuel industry,” Lim said.

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