Americana Restaurants International PLC announcement of final offer price for concurrent dual listing

  • Date: 25-Nov-2022
  • Source: Zawya
  • Sector:Retail
  • Country:UAE
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Americana Restaurants International PLC announcement of final offer price for concurrent dual listing

- The Final Offer Price for Americana Restaurants’ IPO on Abu Dhabi Securities Exchange (“ADX”) and the Saudi Stock Exchange (the “Saudi Exchange”) has been set at AED 2.62 /SAR 2.68 per Share, at the top of the previously announced Offer Price Range

- The total Offering size is $1.80 billion (equivalent to AED 6.62 billion or SAR 6.77 billion), with an implied market capitalization for the Company of $6.01 billion (equivalent to AED 22.07 billion or SAR 22.58 billion)

- The concurrent bookbuilding process generated orders of approximately $105 billion (equivalent to AED 386 billion or SAR 394 billion) in aggregate from institutional and retail investors, representing an approximate oversubscription level of 58x for the Offering

Abu Dhabi and Riyadh: Americana Restaurants International Plc (“Americana Restaurants” or the “Company”), the largest out-of-home dining and quick service restaurant operator in the Middle East & North Africa and Kazakhstan, announces the successful conclusion of the concurrent bookbuilding and subscription period for its Initial Public Offering (“IPO” or the “Offering”).

The final price for the shares to be sold in the Offering (the “Final Offer Price”) has been set at AED 2.62 per Share in the UAE and SAR 2.68 per Share in Saudi Arabia, implying