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Galfar’s right issue to close on September 26

Oman's Galfar Engineering and Contracting has said its $13.8m rights issue will be closing on September 26, Reuters has reported. The contracting firm is offering 34.65 million ordinary shares and 14.85 million preferential voting rights shares. The proceeds of the rights issue will be primarily be used to strengthen the company's balance sheet and enable company to raise long term fund to support its growth, Galfar said.