Americana Foods, the MENA region’s largest quick-service restaurant operator, intends to sell 30% of its share capital in an initial public offering (IPO) and dual-list on Saudi and Abu Dhabi stock exchanges.
On Wednesday, Americana, the Middle East operator of Pizza Hut and KFC, announced plans to sell 2.52 billion existing ordinary shares.
The offering will be open to retail investors in the UAE and Saudi from November 14 to November 21. It will close on November 22nd for institutional investors.
Following the book-building process, the final offering prices will be determined.
The shares of Americana are expected to begin trading on Saudi’s Tadawul and the Abu Dhabi Securities Exchange (ADX) on or around December 6, according to the company.