Cebu-based fuel distributor and retailer Top Line Business Development Corp. is planning to raise fresh capital next year through the issuance of preferred shares to fund its continued expansion, including its venture into fuel importation.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said it has secured shareholder approval for the reclassification of 800 million unissued common shares into preferred shares.

Its board of directors has also received the authority to pursue capital-raising activities, such as private placement, follow on offering, or debt issuances at its special stockholders’ meeting on Dec. 2, 2025.

“Our growth trajectory is clear and compelling... We intend to undertake capital-raising activities, targeting next year, 2026,” said Top Line Chairman, President, and Chief Executive Officer (CEO) Eugene Erik Lim.

He noted that, “The issuance of preferred shares provides investors with steady returns through fixed dividends, while allowing us to strengthen our balance sheet and accelerate our vertical integration strategy.”

Proceeds from the preferred share issuance will be used to optimize Top Line’s supply chain as it starts direct fuel importation through its subsidiary, Topline Logistics and Development Corp. (TLDC).

“This initiative is expected to provide better pricing, improve supply stability, capture better margins, and enhance efficiency across the company’s fuel businesses,” the firm explained.

Top Line also plans to expand its depot infrastructure and storage capacity to accommodate increased import volumes.

Along with these efforts, it is expected to also support the growth of Top Line’s retail fuel arm, Light Fuels Corp. (LFC), as it expands its network to improve its market share across the rapidly growing Visayas region.

“These initiatives aim to enhance operational efficiency, reduce landed cost and overall operating costs, and improve our profitability and ultimately creating greater long-term value for our shareholders,” said Lim.

He added that, “We are confident that this direction places Top Line in a stronger strategic position, one that allows us to integrate vertically, capture more value from the supply chain, and deliver higher margins and more resilient income streams.”