Customers eat fast food at a KFC restaurant at the Dubai Mall. Americana has the Middle East franchises for KFC, Pizza Hut, Hardee’s, TGI Friday’s, and Baskin-Robbins, among others. Bloomberg
Customers eat fast food at a KFC restaurant at the Dubai Mall. Americana has the Middle East franchises for KFC, Pizza Hut, Hardee’s, TGI Friday’s, and Baskin-Robbins, among others. Bloomberg
Customers eat fast food at a KFC restaurant at the Dubai Mall. Americana has the Middle East franchises for KFC, Pizza Hut, Hardee’s, TGI Friday’s, and Baskin-Robbins, among others. Bloomberg
Customers eat fast food at a KFC restaurant at the Dubai Mall. Americana has the Middle East franchises for KFC, Pizza Hut, Hardee’s, TGI Friday’s, and Baskin-Robbins, among others. Bloomberg

Americana IPO: UAE retail offering doubled due to strong demand


Massoud A Derhally
  • English
  • Arabic

Americana, the largest quick-service restaurant operator in the Mena region, has doubled the size of its UAE retail tranche in its initial public offering to 10 per cent due to strong demand.

The retail segment of its offering in Saudi Arabia remains unchanged at 10 per cent of the total offering. The institutional investors tranche has been reduced to 80 per cent from 85 per cent of the total offering, the company said in a statement on Friday.

The overall offering size remains unchanged, representing 30 per cent of the company’s issued share capital.

The company is selling more than 2.52 billion shares in an offering that runs from November 14 until November 21 for retail investors in the UAE and Saudi Arabia. For institutional investors, it will close on November 22.

The price range was set at Dh2.50 and 2.55 Saudi riyals ($0.68) to Dh2.62 and 2.68 Saudi riyals ($0.71) per share, implying an equity value for the group of $5.73 billion to $6.01 billion.

The final offer price is expected to be announced on November 23.

Americana may raise as much as $1.8 billion from its IPO, with the company eventually being dually listed on Saudi Arabia's Tadawul and the UAE's Abu Dhabi Securities Exchange, the two biggest bourses in the Arab world. Shares are expected to start trading on or around December 6.

The company, which is the largest out-of-home dining operator in 12 countries across Mena and Kazakhstan and operates restaurant chains such as Pizza Hut and KFC, is the latest among regional companies seeking to raise funds through equity markets amid higher oil prices, greater liquidity and strong investor confidence.

Unlike global markets that have had subdued investor sentiment amid soaring inflation and rising recession fears, the Middle East and North Africa region has had strong IPO activity this year and in 2021.

The Mena region had 24 IPOs in the first half of this year. The UAE was the biggest IPO market in terms of the aggregate value of deals, while Saudi Arabia led volume with five IPO deals in the first six months of the year, according to EY data.

Middle East IPOs have raised $18 billion this year, the highest share for the Gulf region after 2019, when Saudi Aramco went public in a $29 billion offering, the world’s largest, according to Bloomberg data.

Saudi Arabia's main Tadawul exchange had two IPOs and the Nomu-Parallel Market drew three, which raised $490 million in proceeds in the third quarter.

Americana intends to maintain a “robust dividend policy” and make a partial dividend distribution of about 75 per cent of its net profit attributable to the parent company for the second half of this year.

It expects to pay the dividend in cash during the first half of next year.

From 2023 onwards, the company intends to adopt an annual dividend distribution policy and plans to distribute a minimum of 50 per cent of its profit in dividends.

Rothschild & Co is acting as independent financial adviser on the IPO.

First Abu Dhabi Bank, Goldman Sachs, Morgan Stanley, SNB Capital are joint global co-ordinators and financial advisers.

FAB is the lead manager and listing adviser in the UAE, while SNB Capital is lead manager in Saudi Arabia.

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills

Manchester City 4
Otamendi (52) Sterling (59) Stones (67) Brahim Diaz (81)

Real Madrid 1
Oscar (90)

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COMPANY%20PROFILE%20
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The specs
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Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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2.15pm: Conditions (TB) Dh100,000 (D) 1,400m
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Winner: Shanaghai City, Fabrice Veron, Rashed Bouresly.

Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

The specs: Hyundai Ionic Hybrid

Price, base: Dh117,000 (estimate)

Engine: 1.6L four-cylinder, with 1.56kWh battery

Transmission: Six-speed automatic

Power: 105hp (engine), plus 43.5hp (battery)

Torque: 147Nm (engine), plus 170Nm (battery)

Fuel economy, combined: 3.4L / 100km

SPECS
%3Cp%3EEngine%3A%20Supercharged%203.5-litre%20V6%0D%3Cbr%3EPower%3A%20400hp%0D%3Cbr%3ETorque%3A%20430Nm%0D%3Cbr%3EOn%20sale%3A%20Now%0D%3Cbr%3EPrice%3A%20From%20Dh450%2C000%0D%3Cbr%3E%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Drishyam 2

Directed by: Jeethu Joseph

Starring: Mohanlal, Meena, Ansiba, Murali Gopy

Rating: 4 stars

Roll%20of%20Honour%2C%20men%E2%80%99s%20domestic%20rugby%20season
%3Cp%3E%3Cstrong%3EWest%20Asia%20Premiership%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Tigers%0D%3Cbr%3ERunners%20up%3A%20Bahrain%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EUAE%20Premiership%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Jebel%20Ali%20Dragons%0D%3Cbr%3ERunners%20up%3A%20Dubai%20Hurricanes%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EUAE%20Division%201%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Sharks%0D%3Cbr%3ERunners%20up%3A%20Abu%20Dhabi%20Harlequins%20II%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EUAE%20Division%202%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Tigers%20III%0D%3Cbr%3ERunners%20up%3A%20Dubai%20Sharks%20II%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDubai%20Sevens%3C%2Fstrong%3E%0D%3Cbr%3EChampions%3A%20Dubai%20Tigers%0D%3Cbr%3ERunners%20up%3A%20Dubai%20Hurricanes%3C%2Fp%3E%0A
Abu%20Dhabi%E2%80%99s%20Racecard
%3Cp%3E%0D5pm%3A%20Al%20Bithnah%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(Turf)%201%2C200m%0D%3Cbr%3E5.30pm%3A%20Al%20Khari%20%E2%80%93%20Hanidcap%20(PA)%20Dh80%2C000%20(T)%201%2C200m%0D%3Cbr%3E6pm%3A%20Al%20Qor%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C600m%0D%3Cbr%3E6.30pm%3A%20Wathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(T)%201%2C600m%0D%3Cbr%3E7pm%3A%20Al%20Badiyah%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%202%2C200m%0D%3Cbr%3E7.30pm%3A%20Al%20Hayl%20%E2%80%93%20Handicap%20(TB)%20Dh80%2C000%20(T)%202%2C200m%3C%2Fp%3E%0A
The specs

Engine: 1.6-litre 4-cyl turbo

Power: 217hp at 5,750rpm

Torque: 300Nm at 1,900rpm

Transmission: eight-speed auto

Price: from Dh130,000

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NEW%20UTILITY%20POLICY%3A%20WHAT%20DOES%20IT%20REGULATE%3F
%3Cp%3E%E2%80%A2%20Agreements%20on%20energy%20and%20water%20supply%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Applied%20service%20fees%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Customer%20data%20and%20information%20privacy%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Prohibition%20of%20service%20disconnections%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Customer%20complaint%20process%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Management%20of%20debts%20and%20customers%20in%20default%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Services%20provided%20to%20people%20of%20determination%20and%20home%20care%20customers%3C%2Fp%3E%0A
COMPANY%20PROFILE
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What is dialysis?

Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.

It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.

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It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

ENGLAND%20SQUAD
%3Cp%3E%3Cstrong%3EGoalkeepers%3C%2Fstrong%3E%20Pickford%20(Everton)%2C%20Pope%20(Newcastle)%2C%20Ramsdale%20(Arsenal)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDefenders%3C%2Fstrong%3E%20Chilwell%20(Chelsea)%2C%20Dier%20(Tottenham)%2C%20Guehi%20(Crystal%20Palace)%2C%20James%20(Chelsea)%2C%20Maguire%20(Man%20United)%2C%20Shaw%20(Man%20United)%2C%20Stones%20(Man%20City)%2C%20Trippier%20(Newcastle)%2C%20Walker%20(Man%20City)%3Cbr%3E%3Cbr%3E%3Cstrong%3EMidfielders%20%3C%2Fstrong%3EBellingham%20(Dortmund)%2C%20Gallagher%20(Chelsea)%2C%20Henderson%20(Liverpool)%2C%20Maddison%20(Leicester)%2C%20Mount%20(Chelsea)%2C%20Phillips%20(Man%20City)%2C%20Declan%20Rice%20(West%20Ham)%3Cbr%3E%3Cbr%3E%3Cstrong%3EForwards%20%3C%2Fstrong%3EFoden%20(Man%20City)%2C%20Grealish%20(Man%20City)%2C%20Kane%20(Tottenham)%2C%20Rashford%20(Man%20United)%2C%20Saka%20(Arsenal)%2C%20Toney%20(Brentford)%3C%2Fp%3E%0A
The Specs

Price, base Dh379,000
Engine 2.9-litre, twin-turbo V6
Gearbox eight-speed automatic
Power 503bhp
Torque 443Nm
On sale now

UAE currency: the story behind the money in your pockets
Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

While you're here
About%20My%20Father
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Stan%20Lee
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RESULT

Manchester United 2 Burnley 2
Man United:
 Lingard (53', 90' 1)
Burnley: Barnes (3'), Defour (36')

Man of the Match: Jesse Lingard (Manchester United)

Updated: November 20, 2022, 8:41 AM`