Rex International Holding Limited has announced a strategic move to raise S$7.6m through the placement of new and treasury shares, alongside the issuance of free detachable unlisted warrants. The company entered into agreements with Eagle Harbor Multi-Strategy Master Fund Limited and BB Special Opportunities Fund Ltd on 26 January 2026 to facilitate these investments.
The company plans to issue 40,082,930 new ordinary shares and place 13,187,000 treasury shares at S$0.143 per share. This placement price reflects an 8.917% discount to the volume-weighted average price of S$0.157 on the Singapore Exchange (SGX) as of the agreement date. Additionally, Rex will issue 53,269,930 warrants, allowing investors to subscribe for new shares at an exercise price of S$0.177, a 12.74% premium over the average trading price.
The funds raised will be split between Eagle Harbor, contributing S$4.4m and BB, providing S$3.2m. The company will apply for the listing of these shares and warrants on the SGX Mainboard. The placement is non-underwritten, and SF Partners Limited, an independent introducer, facilitated the investor introductions, earning a 3% fee on the gross investment value.
The issuance will not alter the controlling interest in Rex International. The shares and warrants will be issued under a general mandate approved by shareholders in April 2025, allowing the company to issue up to 20% of its shares on a non-pro-rata basis. The completion of these investments is contingent upon regulatory approvals and other conditions being met by 31 March 2026.
