KFC and Pizza Hut Operator Set for $2 Billion UAE, Saudi IPO
- Saudi Fund, Dubai’s Alabbar to Sell 30% Stake in Americana IPO
- Landmark dual listing comes in a banner year for IPOs in Gulf
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The Middle Eastern operator of KFC and Pizza Hut restaurants is set for a landmark dual listing, in which Saudi Arabia’s Public Investment Fund and Dubai-based businessman Mohamed Alabbar will sell a 30% stake in the firm.
In the first dual listing of its kind, Americana Restaurants International Plc’s owners will offer 2.53 billion shares in Riyadh and Abu Dhabi, according to a statement on Wednesday. The IPO could raise at least $2 billion, according to people familiar with the matter, which would make it Saudi Arabia’s biggest listing this year.