CEBU-BASED fuel retailer Top Line Business Development Corp. (Topline) on Monday said that it would be delaying a planned initial public offering (IPO) to the first quarter of next year, citing requests from potential institutional investors for more time to complete their due diligence.
“While we initially planned to proceed with our original offer period, we have received advice from potential investors to adjust our IPO timetable to accommodate their due diligence process,” Topline Chairman, President and CEO Erik Lim said.
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