SUBSCRIBERS
Rex unit proposes US$4.5m preference share issue to fund Oman well drilling
Published Fri, Dec 20, 2019 · 09:50 PM
Singapore
AN indirect unit of Rex International, Masirah Oil Ltd (MOL), is proposing to issue US$4.5 million of preference shares priced at US$477.70 apiece to Trace Atlantic Oil to fund its drilling activities and operations in Oman.
Rex indirectly holds a 92.65 per cent stake in MOL that will be reduced to 87.40 per cent following the Trace Atlantic deal.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Electronic Arts forecasts annual bookings below estimates as gamers cut spending
Wynn Resorts quarterly results beat estimates on strength in Macau business
Gold prices hold ground as traders eye US Fed cues
Amazon’s AWS puts another S$12 billion into its Singapore cloud infrastructure
UG Healthcare fully acquires German subsidiary for 16.9 million euros
SGX securities turnover jumps 37% in April; derivatives activity continues to gain ground