Bahrain's Arcapita, the Islamic investment firm that needs to refinance a $1.1 billion loan due next year, said it is conducting a rights issue to raise fresh funds from shareholders.
Arcapita was badly hit by the crisis as it struggled to exit its investments due to global investor woes and its fee income from raising fresh funds in the Gulf Arab region collapsed.
'We can confirm that we are conducting a rights issue that has been put to existing shareholders,' a spokesman for the company told Reuters.
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