The Saudi Public Investment Fund and businessman Mohammed Al-Abbar, the founder of Emaar Real Estate Company in Dubai, participated in the ownership of Adebetio Investments, an investment company, which disclosed its plans to offer approximately 2.53 billion common shares, or 30% of the company, on Wednesday.
For individual investors in the UAE and Saudi Arabia, the first public offering runs from November 14 to November 21, and from November 14 for institutions in both nations.
She noted that the company anticipates being listed on or around December 6 on the Saudi Stock Exchange and the Abu Dhabi Securities after the public offering of its shares.
In the second half of the current fiscal year, Americana said it plans to disperse around 75% of the net profit of its parent business, which will be paid in cash during the first half of the following year.
Americana stated that she intends to start distributing at least half of the parent company’s net earnings annually starting in 2023, with the goal of “distributing any money not meant for the general goals of the company, expansion, or integration and acquisition activity.”
The Kuwaiti Food Company “American,” which was part of the larger Americana company and comprised the restaurant and food industries, owned and previously ran the American restaurants. American restaurants’ creations will be included in the initial public offering.
For his part, Muhammad Al -Abbar, Chairman of the American Restaurants Board of Directors, said: “The process of first public offering, coincidence and insertion in the Abu Dhabi Stock and Saudi Financial Market (Tadawul) represents the first proposal of its kind in both markets, and I believe that the American restaurants company is the only company He can perform this kind of inclusion right now.
Thanks to the solid economic and demographic conditions that support our rapid expansion, this is a unique opportunity to welcome investors from the United Arab Emirates, the Kingdom of Saudi Arabia, and throughout the world to join.
“Americana” intends to include two countries: the UAE and Saudi Arabia
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