Saudi IPO: Carlyle Seeks $325 Million From Alamar Foods Share Listing - Bloomberg
The Saudi initial public offering of the Middle East Domino’s Pizza franchise has received orders for all shares on offer within hours of opening its books, according to people familiar with the matter.
Alamar Foods’ order book is fully covered, the people said, asking not to be identified as the information isn’t public. Private equity firm Carlyle Group is seeking to raise as much as $325 million from the listing of the fast-food company on the Saudi stock exchange.
An external representative for Alamar Foods wasn’t immediately available for comment.
Investor appetite for local listings remains strong, though a rally in Middle Eastern equities has faded over the past month as fears of recessions gripped global markets. Saudi Arabian stocks briefly erased this year’s gains on Monday, trading about 18% below a high in May, before rebounding as bargain hunters stepped in.
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