Rex International enters SGX Catalist

It has a market cap of $502m.

In a release, Singapore Exchange (SGX) announced the listing of Rex International Holding Limited on Catalist under the stock code “5WH”.

Rex is an independent oil and gas exploration and production company. Using exploration technologies developed by Swedish brothers Dr Karl Lidgren and Hans Lidgren, the company can reduce exploration risks and costs.

Rex has concessions in the Middle East, Norway and the US which are regions where there are known oil and gas reservoirs. Most of these concessions and licences are in the exploration phase. Dr Lidgren is a non-executive director of Rex while Mr Lidgren is a director and a controlling shareholder of Rex Partners, the controlling shareholder of Rex.

Måns Lidgren, CEO of Rex, said: “We are delighted by the strong reception our IPO received from investors. Upon listing, Rex International Holding will be one of the largest companies on Catalist in terms of market capitalisation.

Leveraging on Rex Technologies to secure more concessions and licences, and our business model of proving up oil assets and selling oil in the ground, we are confident of delivering significant growth in shareholders’ value to our investors."

Rex has a market capitalisation of S$502 million. Its listing brings to 17, the number of mineral, oil and gas companies listed on SGX. Together, they have a market value of S$5.4 billion.