The Top Line Business Development Corp. preferred share sale garnered more than 10x oversubscription via the GCash stock platform offered by AB Capital Securities Inc.
Broadening access to investment opportunities for everyday investors, GStocks PH continues to make it easier for Filipinos to invest in share issuances like Initial Public Offerings (IPOs) and Follow-On Offerings (FOOs) all within the GCash app. During the latest preferred share sale by fuel distributor Top Line Business Development Corp. (PSE: TOP), Filipino investors took up nearly ₱15M worth of shares on GStocks PH offered by broker AB Capital Securities, Inc.
Engaged in commercial fuel trading, retail fuel distribution, and real estate development, TOP is a Cebu-based energy and property development firm operating primarily in Central Visayas. In its FOO last June 26, it offered two preferred shares—TOPA1 and TOPA2—with fixed annual dividend rates of 9.1325% and 9.5981%, respectively. Both securities offer quarterly dividend payouts and were made available on GStocks PH with a minimum investment of ₱1,000.
Traditionally, FOO subscriptions required investors to apply through a brokerage, purchase non-guaranteed shares, and wait until after the offer period to know whether their orders were successful. GStocks PH addresses these challenges by offering a quick, digital signup on the platform and a simplified subscription experience that takes just minutes. GStocks PH allows users to easily order guaranteed shares during IPOs and FOOs while the broker’s allocation lasts; and once the guaranteed allocation for GCash is fully subscribed, GStocks users can just as easily subscribe to additional non-guaranteed shares, with confirmation provided after the offer period.
The TOP FOO received strong support from Filipinos, with nearly 150,000 shares subscribed across both securities, more than 1000% oversubscribed compared to the broker’s initial guaranteed allocation for GStocks PH. The strong demand reflects growing investor interest in accessible investment opportunities made possible through a simplified subscription experience.
“Enabling Filipinos to make more informed decisions and giving them the tools they need to easily invest means creating opportunities for them to grow their hard earned money and build their long-term financial stability. Through GStocks PH, we continue to simplify the investment journey so more users can safely and conveniently participate in the Philippine stock market with just a few taps,” said Winsley Bangit, Group Head of New Businesses at Mynt, the parent company of GCash.
GStocks PH allows Filipinos to build their long-term financial health by seamlessly investing in local stocks and participating in share sales, including IPOs and FOOs, directly within the GCash app. Registering on GStocks PH takes just a few taps. To begin stock investing, fully-verified GCash users just need to open the app, go to the “Invest” tab and select “GStocks PH” to sign up and complete the digital KYC.
By simplifying access to investment opportunities, GCash continues to support more Filipinos in pursuing their financial goals through convenient digital experiences.
For more information, visit https://www.gcash.com.
