Americana Restaurants announced last week that it had covered its initial public offering 58 times, which attracted nearly $105 billion in subscriptions, according to an earlier statement from the company.
The company set the final offering price at 2.62 dirhams in the UAE and 2.68 Saudi riyals, at the highest range of evaluation amid great demand from individual and institutional investors.
A company had announced the offering of about 2.5 billion ordinary shares for a dual public offering in the Abu Dhabi and Saudi markets, and the shares owned by the public will represent 33.91 percent of the company’s shares on the date of listing, according to today’s statement.
According to the statement, 80 percent of the offering shares were allocated to the institutional segment, 10 percent to the individuals segment in the UAE, and the same amount to individuals in Saudi Arabia.
It is noteworthy that Americana Restaurants is the franchise owner of KFC and Pizza Hut fast food restaurants in the Middle East and North Africa.
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