• The Final Offer Price for Americana Restaurants’ IPO on Abu Dhabi Securities Exchange (“ADX”) and the Saudi Stock Exchange (the “Saudi Exchange”) has been set at AED 2.62 /SAR 2.68 per Share, at the top of the previously announced Offer Price Range
  • The total Offering size is $1.80 billion (equivalent to AED 6.62 billion or SAR 6.77 billion), with an implied market capitalization for the Company of $6.01 billion (equivalent to AED 22.07 billion or SAR 22.58 billion)
  • The concurrent bookbuilding process generated orders of approximately $105 billion (equivalent to AED 386 billion or SAR 394 billion) in aggregate from institutional and retail investors, representing an approximate oversubscription level of 58x for the Offering

Abu Dhabi and Riyadh: Americana Restaurants International Plc (“Americana Restaurants” or the “Company”), the largest out-of-home dining and quick service restaurant operator in the Middle East & North Africa and Kazakhstan, announces the successful conclusion of the concurrent bookbuilding and subscription period for its Initial Public Offering (“IPO” or the “Offering”).

The final price for the shares to be sold in the Offering (the “Final Offer Price”) has been set at AED 2.62 per Share in the UAE and SAR 2.68 per Share in Saudi Arabia, implying a market capitalization for Americana Restaurants of $ 6.01 billion (equivalent to AED 22.07 billion or SAR 22.58 billion). The price range for the IPO was set between AED 2.50/SAR 2.55 to AED 2.62/SAR 2.68 per Share, meaning that the Offering was priced at the top of its range. Based on the Final Offer Price, the total offering size is $1.80 billion, equivalent to AED 6.62 billion or SAR 6.77 billion.

The concurrent bookbuilding process generated orders of approximately AED 386 billion/ SAR 394 billion in aggregate from qualified institutional investors in a number of countries, including the UAE and Saudi Arabia (the “Institutional Offer”) and individuals and other investors in the UAE and Saudi Arabia (the “UAE Retail Offer” and the “KSA Retail Offer” respectively), representing an aggregate oversubscription level of approximately 58x.

As a result of the recent unplanned public holiday in Saudi Arabia, which was only announced on 22 November 2022, the Company now expects to provide further information on the Offering timetable, including allocations to investors, on or around 28 November 2022.

Adeptio AD Investments Ltd. (the "Selling Shareholder") will sell 2,527,089,930 existing ordinary shares in the Offering (the “Offer Shares”), each with a nominal value of AED 0.073 (equivalent to SAR 0.075), representing 30% of the Company's issued share capital. The net proceeds of the Offering will be received by the Selling Shareholder. Immediately following Admission, Americana Restaurants will have a free float of 33.97% of its issued share capital.

All documents related to this transaction are available at www.americanarestaurants.com/ipo/.