SHARES of oil exploration and production company Rex International fell on Friday (Feb 21) morning on heavy trading after the company said it was expecting to post a net loss in its upcoming financial results release.
As at 11.03 am, the counter had fallen 19.5 per cent or S$0.042 to S$0.173 from its latest closing price of S$0.215, with 44.6 million shares changing hands. The last time it traded at such levels was in January 2024.
At 11.09 am the counter had eased back up to S$0.176, still down by 18.1 per cent or S$0.039.
In an announcement on Thursday, the company said it expecting to report a net loss for the financial year ended December 2024 based on a preliminary review of its drafted unaudited financial results.
Its shares closed lower on Thursday at S$0.215, down by S$0.005 or 2.3 per cent.
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