Americana Restaurants issues prospectus, allocates 252.71 mln shares to Saudi retail investors

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Americana Restaurants International announced issuing the prospectus for its concurrent dual initial public offering (IPO) in Saudi Arabia and the United Arab Emirates (UAE).

The Capital Market Authority (CMA) recently approved the company’s request for a concurrent dual listing on the Saudi and UAE markets by floating 2.527 billion shares, or 30% of its share capital, according to Argaam.

The company plans to offer 2.5271 billion shares, of which 252.71 million were allocated to Saudi retail investors. The following table illustrates the total number of shares offered to each investors’ category:

Total number of shares offered to each investors’ category
Qualified institutional investors	2.148 billion shares, representing 85% of the total IPO shares and include the participating entities in Saudi Arabia and the UAE
Saudi retail investors	252.71 million shares, representing 10% of the total IPO shares
UAE retail investors	126.35 million shares, representing 5% of the total IPO shares

Retail investors’ subscription period will begin in Saudi Arabia and the UAE, simultaneously, from Nov. 14 to Nov. 21. Book-building process, which will also begin on Nov. 14, will end on Nov. 22.

The IPO price range will be announced on Nov. 14.

The company’s core activity is the management of restaurants, proprietary investments and activities of the head office.

Company Profile
Company	Americana Restaurants International Plc Co.
Market	Dual listing
Core Activities	Restaurants Management
Capital	SAR 631.77 mln (or AED 618.72 mln)
Number of Shares	8.42363 bln
Nominal Value per Share	SAR 0.075

Offering Details
Issue Percentage	30%
Offered Shares	2.5271 bln
Percentage of Offered Shares for Saudi retail investors	10% of total IPO shares
Number of Offered Shares for Saudi retail investors	252.71 mln
Qualified Subscribers	- Saudi retail investors - Qualified institutional investors
IPO Minimum Limit for Retail Investors	1,000 shares
Minimum Size for Institutional Investors	5 mln shares
IPO Maximum Size for Retail Investors	Less than 5% of the company’s total issued shares
Maximum Size for Institutional Investors	Less than 5% of the company’s total issued shares
Announcing IPO price range	Nov. 14, 2022
Institutional Investors’ Subscription Period and Book-building Process	From Nov. 14, 2022 until Nov. 22, 2022 (9 days)
Retail Subscription Period	From Nov. 14, 2022 until Nov. 21, 2022 (8 days)
Final Allocation	Nov. 23, 2022
Surplus Refunds (if any)	Dec. 5, 2022

Other Details
Financial Advisors and Joint Global Coordinators	SNB Capital, FAB Capital, Goldman Sachs and Morgan Stanley
Lead Manager in Saudi Arabia	SNB Capital
Institutional Lead Managers and Underwriter in Saudi Arabia	SNB Capital, FAB Capital, Goldman Sachs, Morgan Stanley, EFG Hermes and HSBC Saudi Arabia
Receiving Banks	SNB, Al Rajhi Bank, Riyad Bank, Alinma Bank and Arab National Bank

Company Shareholders
Shareholders	Before IPO		Post-IPO
Shareholders	Number of Shares (mln shares)	Ownership%	Number of Shares (mln shares)	Ownership%
Adeptio AD Investments Ltd.	8,089.47	96.03 %	5,592.38	66.03 %
Minority interest	334.16	3.97 %	334.16	3.97 %
Public	--	--	2,527.09	30.00 %
Total	8,423.63	100 %	8,423.63	100 %

For More IPOs

Prospectus for the Public Offering of Shares in Americana Restaurants International PLC

PIF Investments

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