HomeMarketsPIF-backed Americana plans $1 bn IPO
By Economy Middle East
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June 8, 2022 8:49 pm

PIF-backed Americana plans $1 bn IPO

The company added Morgan Stanley to IPO
IPO
A brand of the Americana Group

Americana Group, the regional operator of KFC and Pizza Hut restaurants, has added Morgan Stanley to work on a planned initial public offering (IPO) that could raise $1 billion.

The New York-based bank will work alongside First Abu Dhabi Bank PJSC, Goldman Sachs Group Inc., and SNB Capital for the IPO of Americana Group, the people said, asking not to be identified as discussing confidential information. Rothschild & Co. is the financial adviser on the IPO.

Details on the size and timing of the offering are still preliminary and subject to change.

Americana, backed by Saudi’s Public Investment Fund (PIF) and an investment vehicle led by Dubai-based businessman Mohamed Alabbar, started preparations for a dual listing in Riyadh and Abu Dhabi that could raise about $1 billion.