Americana in early talks to list on Saudi or UAE stock exchange: Report

Logo of Americana Group

Americana Group has held early-stage talks with advisors over a potential listing in the UAE or Saudi Arabia, or a dual listing, Bloomberg reported, citing people with knowledge of the matter.

Discussions are ongoing, but no advisers have been hired since there is no certainty the IPO will materialize, they said.

One of the sources said the listing could raise about $1 billion.

Dubai-based businessman, Mohamed Alabbar's Adeptio AD Investments SPC Ltd., purchased the company in 2016.

In November 2016, the Public Investment Fund (PIF) took a 50% stake in Adeptio.

Founded in Kuwait in 1964, Americana operates more than 1,800 restaurants across the region, as well as 25 food production sites across the UAE, Saudi Arabia, Kuwait, and Egypt.

The company was delisted from the Kuwaiti stock exchange on April 23, 2018.