TopLine Business Development Corp. of Cebu remains optimistic about its initial public offering (IPO) despite recent market drops and economic uncertainties. The company plans to raise P2.75 billion through the IPO, with funds directed to new infrastructure projects, fuel tankers, and working capital. CEO Eugene Erik Lim emphasized that their long-term growth strategy justifies proceeding with the IPO. Despite the Philippine Stock Exchange index’s recent 1.4% drop, TopLine believes investor interest remains strong, supported by a commissioned study projecting significant regional economic growth. The offer period is scheduled from November 27 to December 3, with a listing date set for December 12.
TOPLINE TO PUSH IPO DESPITE MARKET DECLINE
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