Americana Restaurants announces increase in UAE retail offer for IPO

Americana Restaurants announces increase in UAE retail offer for IPO

The KSA retail offer remains unchanged at 10% of the total offering, whilst the institutional offer will reduce from 85% to 80% of the total IPO

Published: Fri 18 Nov 2022, 10:19 AM Last updated: Fri 18 Nov 2022, 10:26 AM

Americana Restaurants International Plc — the largest out-of-home dining and quick service restaurant operator in the Middle East & North Africa and Kazakhstan — announced that it increased the UAE retail offer for its initial public offering, from 5 per cent to 10 per cent of the total offering.

This move effectively makes the UAE retail offer equal to that of the Kingdom of Saudi Arabia.

The KSA retail offer remains unchanged at 10 per cent of the total offering, whilst the institutional offer will reduce from 85 per cent to 80 per cent of the total IPO.

The adjustment to the IPO structure has been made after obtaining the necessary regulatory approvals from the Securities & Commodities Authority (SCA) in the UAE, as well as the Capital Market Authority (CMA) in Saudi Arabia.

The subscription periods will remain unchanged and will continue until November 21, 2022, for individuals and other investors in both countries, and until November 22, 2022, for qualified institutional investors in