Dubai: Dubai-based financial services firm Arqaam Capital has invited banks to pitch for roles in arranging its flotation on the emirate’s bourse, three banking sources aware of the matter told Reuters on Thursday.
The invitation, known as a request for proposals (RFP), was sent to a number of international and local banks on Wednesday for a listing which is earmarked to happen in the latter part of this year, two of the sources said, with one specifying the third quarter as the target time frame. Arqaam has offices in five countries in the Middle East and Africa and offers services including brokerage, asset management and corporate finance advisory. It declined to comment when contacted by Reuters.
The sources spoke on condition of anonymity as the information isn’t public.
