American Food Chain in Saudi Arabia and Abu Dhabi offers share allocation and reveals the IPO date
Riyadh: A Food Chain group that operates, Krispy Kreme, KFC, Pizza Hut, and others across the Middle East has announced the allocation of shares to investors on the expected date of its IPO in Abu Dhabi and Saudi Arabia, according to the statement.
Americana Restaurant’s IPO is the first binary listing process on the Saudi Stock Exchange, and Abu Dhabi Stock Exchange, also known as the Tadawul. Given the receipt of all required regulatory approvals, the listing and trading process for the IPO is expected to begin on December 12.
As of November 24, the company revealed that the final price of the shares to be offered for subscription is 2.62 dirhams ($0.71) per share in the United Arab Emirates and 2.68 SR ($0.00), respectively group. $.71) per share in the United Arab Emirates. Kingdom.
The registration request amounted to $ 105 billion from many investors and qualified companies in various countries, including the United Arab Emirates and Saudi Arabia.
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Apart from this, other investors belong to what is known as “each sector” in the UAE and the Kingdom, respectively. Subscription requests for individuals in the United Arab Emirates and Saudi Arabia grew 48.2 times and 2.8 times, respectively. In contrast, subscription requests from eligible companies exceeded 65.5 times. In Saudi Arabia, A total of 283,245 individual investors registered in the IPO.
“We are looking forward to the next step in our growth journey and are working on creating value in the future. We are also proud to have taken the final step to the first binary listing on ADX and the Saudi Stock Exchange, deepening the UAE and Saudi capital. We look forward to welcoming our new owners in December,” Americana Restaurant CEO Mohamed Ali Rashed Alabbar said in a statement.
While 80% of the common shares are allocated to the eligible corporate tranche, 10% are assigned to individual tranches in the UAE, and 10% are allocated to separate tranches in the Kingdom.
In addition, the food and beverage company has offered more than 1,000 shares to each subscriber in the UAE retail sector and more than 892 shares to each retail sector.
