‎Americana Restaurants sets offer price range, opens subscription for concurrent dual listing on ADX, Tadawul

‎Americana Restaurants sets offer price range, opens subscription for concurrent dual listing on ADX, Tadawul

Americana Restaurants International Plc, the largest out-of-home dining and quick service restaurant operator in the Middle East & North Africa and Kazakhstan, announces the Offer Price Range and opening of bookbuilding and the subscription period for its Initial Public Offering (IPO). The offering will be conducted through a concurrent dual listing process on the Abu Dhabi Securities Exchange (ADX) and the Saudi Exchange (Tadawul).

The offer price range has been set between AED 2.50/SAR 2.55 to AED 2.62/SAR 2.68 per Share, implying an equity value for the Group of $5.73 billion to $6.01 billion (equivalent to AED 21.06 billion to AED 22.07 billion or SAR 21.48 billion to SAR 22.58 billion). The final offer price is expected to be announced on 23 November 2022. Admission of the Shares to trading on ADX and the Saudi Exchange is expected to be on 6 December 2022, subject to receiving all required regulatory approvals.

The opening of the subscription period for the IPO commences today, 14 November 2022, and will continue until 21 November 2022 for individuals and other investors in the UAE and Saudi Arabia (the UAE Retail Offer and Saudi Arabia’s Retail Offer respectively); and until 22 November 2022 for the offering to