Business
Why the Regional Express (ASX:REX) share price is rising today
The Regional Express Holdings Ltd (ASX: REX) share price is on the rise today after the company announced it has signed an agreement with PAG Regulus Holdings on funding for its domestic operations. At the time of writing, the Regional Express share price is trading at $1.51, up 2.7%.
What’s moving the Rex share price?
The Rex share price is edging higher on the company’s news that Asia-Pacific investment firm, PAG, will provide funds of up to $150 million. The injection of capital will support the launch of Regional Express’ domestic jet operations scheduled to commence on 1 March.
The investment will comprise of first ranking senior secured convertible notes. An initial funding tranche of $50 million will be drawn down…
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