UPDATE 1-UAE's Ithmar Capital picks CS, Deutsche for $436 mln Dubai float-sources | Reuters:
"United Arab Emirates-based private equity firm Ithmar Capital has picked Credit Suisse and Deutsche Bank to manage the flotation of a vehicle it hopes to list on the Dubai bourse by year end, sources close to the matter told Reuters.
Ithmar is aiming to list a so-called special purpose acquisition company (SPAC), which lists and then uses the cash raised from the flotation to make private equity-style investments, several sources said.
The listing will aim to raise around 1.6 billion dirhams ($436 million), with proceeds to be used to invest in healthcare and education assets, including buying stakes in firms which Ithmar currently owns - most notably some of its 20 percent holding in Al Noor Hospitals."
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