Americana IPO: Middle East KFC Operator Picks Banks for Dual Listing - Bloomberg
The operator of KFC and Pizza Hut restaurants across the Middle East and North Africa has tapped banks to prepare for a dual listing in Riyadh and Abu Dhabi that could raise about $1 billion, according to people familiar with the matter.
Americana Group, backed by Saudi Arabia’s Public Investment Fund and an investment vehicle led by Dubai-based businessman Mohamed Alabbar, has picked First Abu Dhabi Bank PJSC, Goldman Sachs Group Inc. and SNB Capital to work on an initial public offering that could take place as soon as this year, the people said.
The firm could seek a valuation of about $7 billion to $8 billion, the people said, asking not to be identified as the information is private. Rothschild & Co. is Americana’s financial adviser on the IPO and more banks are likely to be added in the coming months, they said.
Details on size and timing of the offering are still preliminary and subject to change. Representatives for First Abu Dhabi Bank, Goldman Sachs and Rothschild declined to comment, while Americana and SNB weren’t immediately available for comment.
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