<\/p>\n
THE Securities and Exchange Commission (SEC) has approved the popular share offering of Top Line Business Development Corp. of as much as P1.5 billion in its initial tranche, allowing the corporate to proceed with the planned issuance.<\/p>\n
\u201cIn its meeting on April 28, the Commission En Banc resolved to render effective the registration statement of Top Line covering the shelf registration of as much as 150 million preferred shares, subject to the corporate\u2019s compliance with certain remaining requirements,\u201d the SEC said in a press release.<\/p>\n
Within the initial tranche, the fuel trading firm plans to supply as much as 10 million preferred shares, with an oversubscription option for an additional 5 million shares, priced at P100 each.<\/p>\n
The offer could generate about P1.47 billion in net proceeds if fully exercised, which the corporate intends to make use of for working capital, depot construction or renovation, and general corporate expenses.<\/p>\n
The offer period is scheduled from May 19 to June 1, with issuance and listing on the Philippine Stock Exchange\u2019s foremost board targeted for June 11, based on the corporate\u2019s latest timetable submitted to the SEC.<\/span><\/p>\n Top Line has tapped PNB Capital and Investment Corp. as sole issue manager for the offering, which may even act as joint lead underwriter and bookrunner alongside Security Bank Capital and Investment Corp.<\/p>\n Shares in Top Line were unchanged at P1.41 each on the close of trading on Wednesday. \u2014 Alexandria Grace C. Magno<\/b><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" PHILIPPINE STAR\/EHDA M. DAGOOC THE Securities and Exchange Commission (SEC) has approved the popular share offering of Top Line Business Development Corp. of as much as P1.5 billion in its initial tranche, allowing the corporate to proceed with the planned issuance. \u201cIn its meeting on April 28, the Commission En Banc resolved to render effective […]<\/p>\n","protected":false},"author":1,"featured_media":328765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[18561,24989,3904,38013,19800,17694,656,1111],"class_list":["post-328764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-approves","tag-lines","tag-offer","tag-p1-5b","tag-preferred","tag-sec","tag-share","tag-top"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/328764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/comments?post=328764"}],"version-history":[{"count":2,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/328764\/revisions"}],"predecessor-version":[{"id":328767,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/328764\/revisions\/328767"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media\/328765"}],"wp:attachment":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media?parent=328764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/categories?post=328764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/tags?post=328764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}