Appleby advises Rex International on listing on Singapore Exchange Securities Trading Ltd

Appleby has acted as British Virgin Islands counsel for Rex International Holding Ltd on its listing on the Catalist on the Singapore Exchange Securities Trading Ltd, with net proceeds estimated to be approximately $63m (assuming the over-allotment option is exercised in full).

The majority of the proceeds from the offering will be used for the investment of new oils and gas opportunities, drilling in Middle East concessions, drilling in Norwegian licences and general working capital.

 According to Shares Investment, the market cap prior to the over-allotment option is approximately $385m, making it one of the top five Catalist companies in terms of market cap.

The Appleby team was led by Jeffrey Kirk, corporate and commercial partner of Appleby, and assisted by counsel Tan Li-Lee and associate Vincent Chan.

WongPartnership LLP advised the company as to Singapore law.

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