Americana Restaurants International, the largest restaurant operator in the MENA, has intended to proceed with an Initial Public Offering (IPO) and to list its shares for trading on the Abu Dhabi Securities Exchange (ADX) and the Saudi Stock Exchange (Tadawul) through a concurrent dual listing process.
Adeptio Investments intends to offer 2,527,089,930 existing ordinary shares of Americana Restaurants, representing 30 percent of the total issued share capital of Americana Restaurants. The net proceeds of the Offering will be received by the Selling Shareholder.
The Offering is expected to run from 14th November 2022 until 21st November 2022 for retail investors in the UAE and Saudi Arabia and from 14th November 2022 until 22nd November 2022 for institutional investors.
Admission of the Offer Shares to trading on ADX and the Saudi Exchange is expected to take place on or around 6th December 2022. Completing the Offering and Admission is subject to market conditions and obtaining all necessary relevant regulatory approvals in the UAE and Saudi Arabia.
Americana Restaurants was previously operated by Kuwait Food Company (Americana), under the wider Americana umbrella, which included both Restaurant and Food businesses. The Initial Public Offering is for the Restaurant business only.
Mohamed Alabbar Chairman Americana Restaurants
“It gives us great pleasure to announce the start of our IPO process, a major milestone in our fifty-plus-year history. We are proud of the fact that Americana Restaurants is a GCC-born food and beverage champion, which has grown to be the single largest player in the MENA region and Kazakhstan. Our diversified restaurant platform serves the most popular food categories and delights millions of customers across our 12 countries of operation.”
“A concurrent dual listing on ADX and the Saudi Exchange marks the first-of-its-kind transaction for both markets, and no company could be better suited than Americana Restaurants to carry this torch. With macroeconomic and demographic tailwinds that support our accelerating growth, this is an exciting time to be inviting investors in the UAE, Saudi Arabia and internationally to share in our onward journey of success,” added Mr. Alabbar.
