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Saudi Arabia’s Alamar Foods, the master franchise operator of Domino’s Pizza in the region, announced on Wednesday, its intention to proceed with the IPO and listing of its shares on the Saudi Stock Exchange’s (Tadawul) main market.
The offering will allow funds managed by The Carlyle Group to fully sell more than 10.6 million ordinary shares, which represent nearly half (41.7 percent) of the company’s issued share capital of 25.5 million, according to a statement.
The Washington, D.C.-based investment company owns 42 percent of the company.
Alamar Foods, which also has the right to operate Dunkin’ Donuts, confirmed that the Capital Market Authority (CMA) has already approved its application for the IPO.
The shares will be open for subscription to retail and institutional investors, including those outside the United States.
The final offer price of the offer shares will be determined after the book-building period. Individual subscription period will start on July 20 and end on July 21, 2022.
The fast-food chain operator’s portfolio includes more than 500 Domino’s restaurants across 11 countries in the Middle East, North Africa and Pakistan (MENAP) region and over 44 Dunkin’ stores in Egypt and Morocco.
(Reporting by Cleofe Maceda; editing by Seban Scaria)
