IPO TIMELINE

  • 2 Nov 2022

    Intention to Float Announcement

  • 14 Nov 2022

    Offering Commencement & Price Range Announcement

  • 21 Nov 2022

    Closing of the UAE and KSA Retail Tranches

  • 22 Nov 2022

    Closing of the Institutional Tranche

  • 23 Nov 2022

    Announcement of Final Offer Price

  • 30 Nov – 5 Dec 2022

    Refunds to Retail Tranche subscribers

  • 6 Dec 2022

    Expected listing of shares on ADX and the Saudi Exchange (subject to receiving all required regulatory approvals)

Key Announcements

UAE Public Announcement
Intention to Float Announcement
Price Range Announcement
UAE Retail Offer Increase
Announcement of Final Offer Price and Update to the IPO Timeline

Key Documents

UAE Prospectus
KSA Supplement Prospectus
International Offering Memorandum
Supplementary Prospectus

Understanding a dual listing

A dual listing is when a particular security is listed on more than one exchange – in this case, ADX and the Saudi Exchange.

After becoming a dual-listed company, Americana Restaurants will continue to operate as a single business, but its shares will be traded on both exchanges. The shares will be fully fungible between the exchanges and will hold the same economic and voting rights.

Once listed, it will be possible for investors on both exchanges to trade the Company’s shares (subject to an investor being eligible to trade on each exchange). Shares will trade on the ADX in Emirati Dirhams (AED) and on the Saudi Exchange in Saudi Riyals (SAR). The share price in both AED and SAR will be the same at the time of listing, after accounting for the prevailing exchange rate. After listing, the market price on each respective exchange will be determined by trading activity.

Fungibility of the offer shares

Key considerations for the transfer of shares between ADX and the Saudi Exchange

  • The shares traded on ADX and the Saudi Exchange will have the same ISIN number but different ticker (trading symbol)
  • Shares traded in Americana Restaurants on ADX and the Saudi Exchange will hold the same economic, voting and other rights
  • Investors who hold investment accounts in both the UAE and Saudi market can transfer shares between the two markets
  • Investors that wish to transfer shares are required to have set up an account with ADX and Edaa (the Saudi Central Security Depositary)
  • The transfer of shares between ADX and Edaa is restricted to the same beneficial owners only
  • Any instructions for transfer of shares must be with settled shares which are not pledged or collateralized
  • For ADX, initiation of a transfer request should be done directly with ADX or through a broker / custodian. For the Saudi Exchange, initiation of a transfer request should be done through a broker / custodian
  • The transfer of shares between investment accounts in each of the markets is subject to inbound and outbound transfer fees from ADX and Edaa together with any applicable VAT

Transferring shares from ADX to Edaa (the Saudi CSD)

Same day transfer will take place only on common working days of ADX and Saudi Exchange and will not occur on Fridays, Sundays or Public Holidays for either market.

Important Notes

  • The transfer of shares between investment accounts in each of the markets is subject to inbound and outbound transfer fees from ADX and Edaa together with any applicable VAT.
  • Transfer requests placed after 12:00 noon UAE time will be processed on the next common working day.
  • Requests placed on a Friday with ADX will be processed on the following Monday.

*Edaa is the Securities Depositary Center Company, a wholly-owned subsidiary of Saudi Tadawul Group.

Transferring shares from Edaa (the Saudi CSD) to ADX

Same day transfer will take place only on common working days of ADX and Saudi Exchange and will not occur on Fridays, Sundays or Public Holidays for either market.

Important Notes

  • The transfer of shares between investment accounts in each of the markets is subject to inbound and outbound transfer fees from ADX and Edaa together with any applicable VAT.
  • Transfer requests placed after 11:00am Saudi time will be processed on the next common working day.
  • Requests placed on a Sunday with the Saudi Exchange will be processed on the following Monday.

*Edaa is the Securities Depositary Center Company, a wholly-owned subsidiary of Saudi Tadawul Group.