Top Line Business Development Corp. (Top Line) today announced a significant strategic acquisition, purchasing 38 retail fuel stations, a two-million-liter depot facility, and 15 fuel tanker trucks from Total Oil & Gas Resources, Inc. (TOGRI) and Ballston Metro Corporation (BMC). This move underscores Top Line’s aggressive expansion strategy for its retail arm, Light Fuels, particularly in the Visayas region.
The Company is investing approximately P925 million for the acquisition and subsequent renovation of the newly acquired stations. This substantial investment is set to rapidly accelerate the rollout and presence of Light Fuels across Visayas, enhancing Top Line’s distribution capabilities and market reach.
In a disclosure to the Philippine Stock Exchange, Top Line confirmed that P400 million of its initial public offering (IPO) proceeds have been specifically allocated to fund this expansion of its service station network. The Company successfully generated approximately P733 million from its highly anticipated IPO on April 8, 2025.
“This acquisition marks a pivotal moment for Top Line and our Light Fuels brand,” stated Top Line Business Development Corp. “It significantly bolsters our infrastructure, allowing us to serve more communities and meet the growing demand for quality fuel in the Visayas region. The strategic deployment of our IPO proceeds into such a transformative asset base demonstrates our commitment to delivering on our growth promises to our shareholders.”
