Rex International Holding launches IPO on Catalist
Rex International Holding Ltd., an oil exploration company, has launched its initial public offering (IPO) with a public offer of 2.5 million shares at S$0.50 each today. Including over-allotment, Rex International Holding is expected to place out 168 million shares at S$0.50 each, in conjunction with its proposed listing on the Catalist Board of the Singapore Exchange Securities Trading Limited (SGX-ST). Assuming the over-allotment option being fully exercised, Rex International Holding aims to raise up to S$85.25 million.
PrimePartners Corporate Finance Pte. Ltd. (PPCF) is the IPO manager, sponsor, and co-placement agent. UOB Kay Hian Private Ltd. has been appointed as the IPO’s co-placement agent, underwriter and stabilizing manager, while DBS Vickers Securities (Singapore) Pte. Ltd. is a co-placement agent.
“This is the first Catalist company to date with an international placement exercise, an over-allotment option and a public offer,” said Mark Liew, managing director of corporate finance for PPCF.
Rex International Holding is an independent exploration and production (E&P) company with access to a set of proprietary oil exploration technologies, Rex Technologies. This includes Rex Virtual Drilling technology, which the company claims to be the world’s first tool to visualize hydrocarbons in the sub-surface. This technology allows the company to locate oil reservoirs through advanced data analysis of conventional seismic data.