The Capital Market Authority has approved during August 2013 two capital increase  issuances through rights issue of Galfar Engineering and Contracting and Batinah Hotels at a total value of RO 15 million.

Galfar Engineering and Contracting will increase its capital from RO 33 million to RO37.950 million by issuing 49500 shares at  a value of 280 Baisas per share .

The prospectus of the issuance states the commencement of subscription will be on  11^th September 2013 and ends at the closing of the working hours at the collection bank on  26^th September 2013.

Al Batinah Hotels Company is seeking to expand its operation by increasing their capital from RO 2.310 million to RO 3.465 million by issuing 1155 million shares in rights issue. The prospectus provides that the value of the share will be RO 1.020. The subscription will commence on 12 September 2013 and ends at the closing of the working hours of the collection bank on 29^th September 2013.

CMA’s decision to approve the prospectus for the capital increase was based on thelaws and regulations of the capital market sector and the resolutions of the general meetings of the companies to avail the financing opportunities in MSM to expand their businesses.