Americana Plans Selling 30% of its Share Capital in Saudi Arabia, Abu Dhabi Markets

Americana Plans Selling 30% of its Share Capital in Saudi Arabia, Abu Dhabi Markets

Americana Restaurant International, the largest quick service restaurant operator in the MENA region, announced Wednesday its plans to sell 30 percent of its share capital in an initial public offering (IPO) and dual-list on stock markets in Saudi Arabia and Abu Dhabi.

Adeptio Investments AD Ltd., the selling shareholder, intends to offer more than 2.5 billion ordinary shares of Americana Restaurants, representing 30% of the total issued share capital of Americana Restaurants, in a public and concurrent Offering on ADX in the UAE and on the Saudi Exchange in Saudi Arabia.

The net proceeds of the Offering will be received by the Selling Shareholder.

The Company is registered and incorporated in the Abu Dhabi Global Market (ADGM) and is subject to the ADGM Companies Regulations 2020, as amended.

The Selling Shareholder owns 96% of the total issued share capital of Americana Restaurants and is the jointly-held investment vehicle of Mohamed Ali Rashed Alabbar, founder of Emaar Properties, and Saudi Arabia's Public Investment Fund (PIF).

Americana Restaurants' Chairman, Mohamed Ali Rashed Alabbar, said, “It gives us great pleasure to announce the start of our IPO process, a major milestone in our fifty-plus year history.”

Alabbar said that a concurrent dual listing on ADX and the Saudi Exchange