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Rex International Holding Ltd. ( (SG:5WH) ) has shared an update.
Rex International Holding reported that its 2026 placement exercise raised net proceeds of S$7.32 million, of which S$1.0 million has been used mainly for staff costs, operational expenses and professional fees at its Singapore office, leaving S$6.32 million earmarked for general corporate purposes. The disclosure aligns with Singapore Exchange requirements on use of proceeds, underscoring the company’s funding for ongoing operations and corporate needs.
For the first quarter ended 31 March 2026, the Group deployed US$89.75 million, largely on exploration and production activities in Oman, Norway, Benin and Germany, with higher-than-projected spending driven mainly by increased drilling costs in Benin and higher working capital needs. Rex projected US$100.94 million in spending for the next quarter, including significant allocations to Norwegian and Omani projects and continued field development, signalling an intensified investment programme to support production growth despite some timing shifts in drilling plans.
More about Rex International Holding Ltd.
Rex International Holding Ltd. is a Singapore-incorporated oil and gas exploration and production company with assets in Oman, Norway, Benin and Germany. The Group focuses on upstream activities, including field development and production from assets such as Yumna in Oman, Brage and Yme in Norway, Sèmè in Benin, and Schwarzbach and Lauben in Germany, supported by its Singapore and Rex Technology offices.
Average Trading Volume: 50,121,100
Technical Sentiment Signal: Sell
Current Market Cap: S$120.8M
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