Americana restaurants intention to float announcement

  • Date: 02-Nov-2022
  • Source: Zawya
  • Sector:Retail
  • Country:UAE
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Americana restaurants intention to float announcement

Americana Restaurants International Plc (“Americana Restaurants”, the “Group” or the "Company"), the largest out-of-home dining and quick service restaurant operator in the Middle East & North Africa (“MENA”)[1] and Kazakhstan by number of restaurants, today announces its intention to proceed with an Initial Public Offering (the “IPO” or the “Offering”) and to list its shares for trading on the Abu Dhabi Securities Exchange (“ADX”) and the Saudi Stock Exchange (the “Saudi Exchange”) through a concurrent dual listing process. Americana Restaurants was previously operated by Kuwait Food Company (Americana) K.S.C.C, under the wider Americana umbrella, which included both Restaurant and Food businesses. The Initial Public Offering is for the Restaurant business only.

Adeptio Investments AD Ltd. (the "Selling Shareholder") intends to offer 2,527,089,930 existing ordinary shares of Americana Restaurants (the “Offer Shares”), representing 30% of the total issued share capital of Americana Restaurants, in a public and concurrent Offering on ADX in the United Arab Emirates (“UAE”) and on the Saudi Exchange in the Kingdom of Saudi Arabia (“Saudi Arabia” or “KSA”). 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