The ‘Bloomberg’ agency said the initial public offering of Americana International Restaurants Company ‘plc’ was covered within hours of the start of the book building process and continued strong demand for regional stock sales.
Saudi Arabian public investment fund and Dubai businessman Mohammed Alabbar is seeking to raise up to $1.8 billion from the dual listing of Americana in Riyadh and Abu Dhabi.
Americana’s IPO has been covered multiple times, under the terms of the deal seen by Bloomberg.
Americana Restaurants Company had set the price range to offer 30% of its shares in the Saudi and Abu Dhabi markets at a level of between 2.55 and 2.68 riyals per share, equal to 2.5 and 2.62 dirhams for subscribers of the company’s shares in the Abu Dhabi Securities Market.
And Al-Ahly Capital has announced as bookrunner, financial adviser, institutional bookrunner, international coordinator, underwriter, Goldman Sachs Saudi Arabia, Morgan Stanley Saudi Arabia and FAB Capital, as financial advisers, bookrunners, international coordinators and underwriters for the prospective offering initial publication of Americana International Restaurants Company. plc,” in a statement on “Saudi Tadawul,” today, Monday, on the start of a trial period Build the order book for the participating categories segment and start the bidding process for the individuals segment.
Clarifies that participation in the book-building is limited to categories eligible to participate in the book-building process in accordance with the instructions for book-building and the allocation of shares in initial public offerings issued by the Board of the Market Authority of the capitals.
He adds that the final price of the offer for each share of the offering shares will be determined after the completion of the book-building process and after consultation between the financial advisors, the selling shareholder and the company, specifying that the price will be determined at the time of UAE in UAE dirhams and the Kingdom of Saudi Arabia in Saudi riyals, across the offer price range.
On October 31, 2022, the Capital Market Authority approved the application for a dual and simultaneous initial public offering in Saudi Arabia and the United Arab Emirates, filed by Americana International Restaurants Company.
The double bid was approved by registering the company’s shares and offering 2,527.1 million shares, or 30% of its total shares.
The bookbuilding process period for the institutional segment starts today, November 14, 2022, and ends at exactly 11:00 am on November 22, 2022.
While the subscription period for the individual subscriber segment begins on November 14, 2022 and ends at 12:00 on November 21, 2022.
