US private equity firm takes a stake in Australia’s Rex & More Trending News


Houston-based Perea Capital, LLC, the funding supervisor of Perea Capital Partners, LP, has acquired a 5.25% stake in Rex – Regional Express (ZL, Wagga Wagga) in what’s the first main funding by a US private equity firm in the airline.

In a December 1, 2022, submitting with the Australian Stock Exchange (ASX), Perea Capital’s managing companion Omar Musa mentioned the entity had bought 5,913,739 shares in Regional Express Holdings in a sequence of on and off-market trades in the previous 4 months. In the method, Perea grew to become a substantial shareholder (5% or extra) and triggered a necessary reporting requirement. On Friday, January 6, 2023, Regional Express Holdings Limited shares are buying and selling at AUD1.45 Australian {dollars} (USD0.98) on the ASX, valuing Perea’s funding on the day at AUD8,574,922 (USD5,797,450).

Also on December 1, Ming Yew See Toh and Hui Ing Tjoa informed the ASX that they’d ceased to be substantial shareholders after promoting a parcel of 4,200,000 strange shares in an off-market sale price AUD6,216,000 (USD4,202,917) on November 28. Perea Capital was the customer and bought the remaining 1,713,739 shares in separate trades from different sellers. Before the sale, Ming Yew See Toh and Hui Ing Tjoa had a 6.62% stake in Regional Express.

The airline, which has 111,583,797 strange shares on subject, listed on the ASX in 2005. Regional Express Holdings posted a fiscal yr after-tax lack of AUD46 million (USD31.1 million) in the yr to June 30, 2022. But regardless of rising inflation and rates of interest and coping with the rising value of jet gas, the airline now expects to show a revenue in the twelve months to June 30, 2023. Regional Express flies to 57 locations round Australia with its fleet of seven B737-800s, twenty-two Saab 340Bs, thirty-five Saab 340B(Plus)es, and a single Saab 340A.

To date, Singaporean pursuits have dominated the share registry of Regional Express. The airline’s govt chairman, Kim Hai Lim, is the most important shareholder with a 16.9% stake. He is trailed by Joe Tiau Tjoa, the managing director of the Singaporean wholesaler, Greatland, with a 14.4% stake. Regional Express board member Thian Soo Lee with a 6.36% stake is the third greatest shareholder, with Joo Chye Chua fourth with a 6.62% stake. With Ming Yew See Toh and Hui Ing Tjoa promoting the vast majority of their shareholding, Perea Capital turns into the fifth largest shareholder in Regional Express Holdings Limited and the one non-Singapore-based particular person or entity with a high 5 shareholding. Perea Capital didn’t reply to ch-aviation’s request for remark.

US private equity firm takes a stake in Australia’s Rex

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US private equity firm takes a stake in Australia’s Rex

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US private equity firm takes a stake in Australia’s Rex

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