Dubai-based financial services firm Arqaam Capital has chosen Rothschild to advise it on its planned stock market flotation in the emirate later this year, sources aware of the matter told Reuters on Thursday.

The appointment comes after Reuters reported last month that the company had invited banks to pitch for roles in arranging the listing.

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 is not public. – Reuters