“Bloomberg” agency said that the initial public offering of Americana International Restaurants Company “plc” was covered within hours of the start of the book-building process, and the continued strong demand for regional stock sales.
Saudi Arabia’s Public Investment Fund and Dubai businessman Mohammed Alabbar is seeking to raise up to $1.8 billion from Americana’s dual listing in Riyadh and Abu Dhabi.
Americana’s IPO has been covered multiple times, according to the terms of the deal seen by Bloomberg.
Americana Restaurants Company had set the price range for offering 30% of its shares in the Saudi and Abu Dhabi markets at a level ranging between 2.55 and 2.68 riyals per share, equivalent to 2.5 and 2.62 dirhams for subscribers of the company’s shares in the Abu Dhabi Securities Market.
And Al-Ahly Capital announced in its capacity as bookrunner, financial advisor, institutional bookrunner, international coordinator, underwriter, Goldman Sachs Saudi Arabia, Morgan Stanley Saudi Arabia, and FAB Capital, as financial advisors, bookrunners, international coordinators, and underwriters for the potential initial public offering of Americana International Restaurants Company. plc”, in a statement on “Saudi Tadawul”, today, Monday, regarding the start of a process period Building the order book for the participating categories segment, and starting the offering process for the individuals segment.
She clarified that participation in book-building is limited to categories that are eligible to participate in the book-building process in accordance with the instructions for book-building and share allocation in initial public offerings issued by the Board of the Capital Market Authority.
She added that the final offer price for each share of the offering shares will be determined following the completion of the book-building process and following consultation between the financial advisors, the selling shareholder and the company, noting that the price will be determined in the UAE in UAE dirhams and in the Kingdom of Saudi Arabia in Saudi riyals, through the price range of the offering. .
On October 31, 2022, the Capital Market Authority approved the request for a double and simultaneous initial public offering in Saudi Arabia and the UAE, submitted by Americana International Restaurants Company.
The dual offering was approved by registering the company’s shares and offering 2,527.1 million shares, representing 30% of its total shares.
The period of the book-building process for the institutional segment begins today, November 14, 2022, and ends at exactly 11 am on November 22, 2022.
While the subscription period for the individual subscribers segment begins on November 14, 2022, and ends at 12:00 pm on November 21, 2022.
