Rex International Seeks $51M for Expansion

Rex International Holding Ltd. (SG:5WH) has released an update.

Rex International Holding’s subsidiary Lime Petroleum Holding AS is organizing investor meetings through ABG Sundal Collier ASA to potentially raise up to $51 million via a tap issue on its existing bond. The capital raised is intended to fund general corporate activities, with a focus on development in the Norwegian Continental Shelf and providing working capital. This move highlights Rex’s proactive approach to financial management and growth in the oil exploration and production sector.

For further insights into SG:5WH stock, check out TipRanks’ Stock Analysis page.