Business
Why the Regional Express (ASX:REX) share price is flying high today
The Regional Express Holdings Ltd (ASX: REX) share price was a very positive performer on Tuesday.
The regional airline operator’s shares rose 4% to $1.69.
This latest gain means the Regional Express share price has now more than doubled over the last 12 months.
Why did the Regional Express share price storm higher?
Investors were buying Regional Express shares on Tuesday following the release of an update on its agreement with PAG Regulus.
According to the release, the company has completed its investment transaction with PAG Regulus to raise up to $150 million to be used exclusively to fund its domestic operations.
The first tranche of $50 million has been drawn down and secured convertible notes have now been issued to PAG…
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