Abu Dhabi and Riyadh: Americana International Restaurants plc (“Americana Restaurants” or the “Company”), the largest operator in the take-out and quick service restaurant segments in the Middle East, North Africa and Kazakhstan region, announces the stock allocation to investors and the updated schedule for its initial public offering (IPO) “Initial Public Offering” or “Offering”), which is the first simultaneous dual listing process on the Abu Dhabi Securities Exchange and the Saudi Stock Exchange (Tadawul).
As announced on November 24, 2022, the final price of the Shares to be offered for subscription (the “Final Offer Price”) has been set at AED 2.62 per share in the UAE and SAR 2.68 per share in the Kingdom of Saudi Arabia.
The simultaneous book-building process resulted in approximately $105 billion in subscriptions (equivalent to AED 386 billion / SAR 394 billion in total) from qualified institutional investors in a number of countries, including the UAE and Saudi Arabia (“Qualified Institutional Tranche”). ) and individuals and other investors in the UAE and Saudi Arabia (“individual segment in the UAE” and “individual segment in the Kingdom of Saudi Arabia”, respectively). Subscription requests for the individual segment in both the UAE and Saudi Arabia exceeded 48.2 times f Approximately 2.8 times, respectively, while the number of subscription requests in the category of qualified institutions exceeded 65.5 Once. Which means exceeding subscription requests by 58 times . The IPO was subscribed by 283,245 individual investors in Saudi Arabia.
After completing the concurrent book-building process, 80% of the offering shares were allocated to the eligible institutional tranche 2,021,671,944) shares Ordinary (and 10% for individuals in the UAE) 252,708,993 ordinary shares (and 10% for individuals in the Kingdom of Saudi Arabia) 252,708,993 ordinary shares. Americana Restaurants has also allocated no less than 1,000 shares for each subscriber in the retail segment in the UAE and no less than 892 One share of the Offering Shares for each individual subscriber in the Kingdom of Saudi Arabia. In addition, the remaining Offer Shares were allocated on a pro-rata basis to individuals in the UAE, with an allocation ratio of 0.01% For the segment of individuals in the Kingdom of Saudi Arabia. And he has It was completed Allocation of shares to the tranche of eligible institutions in consultation with financial advisors and international coordinators.
As per the updated schedule, the excess subscription amounts (if any) will be returned to retail investors in the UAE on the 30th. November 2022 and to individual investors in the Kingdom of Saudi Arabia before the date of December 8, 2022. The initial public offering process will be completed through the dual listing process on the Abu Dhabi Securities Exchange and the Saudi Stock Exchange (Tadawul), and the offering shares are expected to be listed and start trading on December 12 2022, subject to obtaining all required regulatory approvals (“listing “).
Mr. Mohammed Ali Rashid Alabbar, Chairman of the Board of Directors of Americana Restaurants, said: “Today we are achieving an achievement that all employees of Americana Restaurants Company are proud of, and it is evidence of the distinguished value that the company has achieved since its inception until now. The offering pricing at the upper end of the price range is a clear indication of the opportunity that we offer to investors, with the total number of subscription requests exceeding 58 times.
Alabbar continued: “We look forward to the next step in our growth journey and fulfilling our promise to create additional future value for our shareholders. We are also proud to have taken the last step to complete the first-ever simultaneous dual listing process on the Abu Dhabi Stock Exchange and the Saudi Stock Exchange, which will contribute to enhancing the depth and development of the financial markets in each. From the UAE and Saudi Arabia We are excited to welcome our new shareholders in December.”
It is worth noting that Adeptio AD Investments Limited (the “Selling Shareholder”) had announced the offering of 2,527,089,930 shares of its Ordinary Shares (“Offer Shares”) for sale with a nominal value of AED 0.073 (equivalent to SAR 0.075), which represents 30% Of the total issued shares in the capital of Americana Restaurants Company. The net proceeds of the offering will be distributed to the selling shareholder. Shares owned by the public will represent 33.97% of the company’s shares on the date of listing.
Updated initial public offering schedule
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the event |
Date |
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The date of announcing the final allocation of the shares of the individual segment in the Kingdom of Saudi Arabia The date of announcing the final allocation of the shares of the qualified institutions segment |
November 28, 2022 November 28, 2022 |
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The deadline for paying the subscription amounts in the Qualified Institutions Tranche for shares in the Abu Dhabi Securities Exchange The deadline for paying the subscription amounts in the eligible institutions segment on shares in the Saudi Stock Exchange (Tadawul) |
November 30, 2022
December 1, 2022 |
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Notification by text message and return of the excess subscription amounts to individual investors in the UAE Repatriation of excess subscription amounts to individual investors in the Kingdom of Saudi Arabia |
November 30, 2022 Before December 8, 2022 |
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The expected date of listing the shares on the Abu Dhabi Stock Exchange and the Saudi Stock Exchange, taking into account obtaining all Required regulatory approvals |
December 12, 2022 |
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For more information, please visit the Americana Restaurants IPO process micro-website: www.americanarestaurants.com/ipo/.
