Corporate

Cebu-based fuel retailer Top Line Business Development Corp. is gearing up for its public debut with an initial public offering (IPO) aimed at raising up to P2.75 billion to fund its ambitious expansion in the thriving Central Visayas economy.

JG Summit Holdings Inc.,  the investment holding company of the Gokongwei Group, has approved a capital infusion of up to P17.1 billion into its wholly-owned subsidiary, JG Summit Olefins Corp, to provide the necessary funding to help the petrochemical unit pay off maturing debts. 

GT Capital Holdings Inc., the listed company that holds the Group’s diverse portfolio, reported a consolidated net income of P21.7 billion for the first nine months, up 8 percent year-on-year, excluding non-recurring gains from lot sales and incentives under the Comprehensive Automotive Resurgence Strategy program of 2023. 

AREIT Inc., the real estate investment trust of the Ayala Group, posted a 46 percent growth in nine months net income to P5.0 billion, driven by strong revenue generation across the listed company's diverse portfolio of properties, as well as strategic acquisitions that bolstered its real estate assets. 

Ayala Land Inc. successfully listed its 10-year, P8 billion ASEAN sustainability-linked bonds (tranche 2) at the Philippine Dealing and Exchange Corp. (PDEX) on Wednesday, further bolstering its commitment to sustainable development and climate action.