Exploration and production player Rex International Holding launched its initial public offering (IPO) on Catalist yesterday with a public offer of 2.5 million shares at 50 Singapore cents apiece. Including over-allotment, the Swedish oil & gas group, which boasts of innovative exploration technology, expects to place out 168 million shares and raise up to $85.25 million.
Rex CEO Mans Lidgren said that the IPO of 142.5 million shares comprises 2.5 million public shares and 140 million placement shares, subject to an over-allotment option of 28 million shares. The placement shares "have been fully taken up", he said.
The IPO closes at noon on July 29, with trading of the shares set to begin on July 31.
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