ABU DHABI, 24th November, 2022 (WAM) -- Americana Restaurants International Plc ("Americana Restaurants" or the "Company"), the largest out-of-home dining and quick service restaurant operator in the Middle East and North Africa and Kazakhstan, Thursday announced the successful conclusion of the concurrent book-building 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 capitalisation for Americana Restaurants of US$ 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 US$1.80 billion, equivalent to AED 6.62 billion or SAR 6.77 billion.

The concurrent book building 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 over subscription level of approximately 58x.

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