Logo of Americana Restaurants International
Retail subscription to shares of Americana Restaurants International Plc (by Saudi and UAE investors), which started on Nov. 14, ends today, Nov. 21.
The company floated 30% of its capital or 2.527 billion shares in a dual IPO on the Saudi Exchange (Tadawul) and Abu Dhabi Securities Exchange (ADX).
The offering was divided into three tranches, one of which was for UAE retail investors at 5%, while the institutional investors and Saudi retail investors were allocated 85% and 10% of the total offering, respectively.
The company later decided to raise the UAE retail tranche limit to 10% of the total offering and cut institutional tranche to 80%, as illustrated in the following table:
|
Total Offer Shares by Tranche |
|
|
Institutional Tranche |
2021.67 million shares, or 80% of the total offer shares (including participating entities in Saudi Arabia and the UAE) |
|
Retail Tranche in Saudi Arabia |
252.71 million shares, or 10% of the total offer shares |
|
Retail Tranche in UAE |
252.71 million shares, or 10% of the total offer shares |
The offering period for the institutional tranche will end on Nov. 22.
The offer price range has been set on ADX between AED 2.50 and AED 2.62 per share and on Tadawul between SAR 2.55 and 2.68 per share. The final IPO price will be determined on Nov. 23.
The stock is expected to debut on both markets on Dec. 6.
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