Sun. Jun 4th, 2023

At 10%, UAE retail investor allocation will now be equal to that in Saudi Arabia
Dubai: As was widely expected, Americana Restaurants International has increased the size of the UAE retail offer for its IPO, from 5 per cent to 10 per cent. This makes it equal to the Saudi retail offer.
The Saudi retail offer remains untouched, at 10 per cent of the overall issue size, while that for institutional investors will reduce from 85 per cent to 80 per cent. Americana – the biggest F&B operator in the region by some distance – has retained the overall size of the float at 30 per cent.
“It was more or less certain Americana would look to raise the retail investor tranche – and bringing it to be on par as in Saudi Arabia is one good move,” said an analyst. “Despite the series of IPOs in recent weeks, both in UAE and Saudi Arabia, retail buyer demand for Americana will hold its own.”
The price range has been set at Dh2.50-Dh2.62 (SR2.55-SR2.68), implying an equity value of $5.73 billion to $6.01 billion. The final offer price is to be announced on November 23.

Get Breaking News Alerts From Gulf News
We’ll send you latest news updates through the day. You can manage them any time by clicking on the notification icon.
Dear Reader,
This section is about Living in UAE and essential information you cannot live without.
Register to read and get full access to
By clicking below to sign up, you’re agreeing to our Terms of Use and Privacy Policy
Forgot password


By admin

Leave a Reply

Your email address will not be published. Required fields are marked *