The initial public offering of Galfar Engineering & Contracting, Oman's largest construction company, has been oversubscribed by 11 times, reported Reuters citing an unnamed company official. Galfar sold 100 million shares at 600 baisas each, or a total 60 million rials ($156.2 million), in a four-week sale that closed on Monday. The IPO is Oman's second-largest ever. [AMEInfo.com]



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Posted: 09|11|07 at 8:32 am. Filed under: News.