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Arcapita to conduct rights issue

Bahrain-based Islamic investment firm Arcapita has said it is conducting a rights issue to raise fresh funds from shareholders, as it prepares to refinance a $1.1bn loan due next year, Reuters has reported. "We can confirm that we are conducting a rights issue that has been put to existing shareholders," a company spokesman told the news service. The firm also plans to market the rights issue to new institutional investors in the Gulf region, Malaysia and other parts of Asia, he added.