The HSBC bank logo is seen in the financial district of Canary Wharf in London, Britain, March 3, 2016. REUTERS/Reinhard Krause
Sign up now for FREE unlimited access to Reuters.com
DUBAI, Aug 1 (Reuters) – The franchisee of Middle East and North Africa fast-food restaurants KFC and Pizza Hut has added HSBC (HSBA.L) to its advisory consortium for its potential dual listing this year, two sources familiar with it are matter, Reuters said.
Americana Group has hired HSBC as a joint bookrunner for the initial public offering (IPO), which could value the company at up to $8 billion, the sources said, declining to be named because the matter is not public. One of the sources said more bookrunners may be added.
Americana, which is considering a public sale of shares in the United Arab Emirates and Saudi Arabia, and HSBC did not immediately respond to requests for comment.
Sign up now for FREE unlimited access to Reuters.com
Americana has selected Goldman Sachs (GS.N), Morgan Stanley, First Abu Dhabi Bank (FAB) (FAB.AD) and Saudi National Bank (SNB) (1180.SE) as joint global coordinators for the deal, various said Sources Reuters with In April. Continue reading
Rothschild & Co (ROTH.PA) is working as financial advisor on the IPO, other sources told Reuters in April. Continue reading
Americana is owned by the Public Investment Fund (PIF) of Saudi Arabia and an investment consortium led by Dubai businessman Mohammed Alabbar, founder of Dubai-listed Emaar Properties (EMAR.DU).
Founded in Kuwait in 1964, Americana operates 1,800 restaurants across the region, according to its website. It operates the franchises for KFC, Pizza Hut, Hardee’s and Krispy Creme, among others.
Gulf region issuers raised more than $11 billion in the first half of this year, according to data from Refinitiv.
Gulf markets are highly correlated with oil prices, where Brent crude is trading above $100 a barrel.
Saudi Arabia’s Tadawul stock index is up 9% this year, while Abu Dhabi’s main benchmark is up more than 15% and Dubai is up over 5%.
Sign up now for FREE unlimited access to Reuters.com
Reporting by Hadeel Al Sayegh Editing by Mark Potter
Our standards: The Thomson Reuters Trust Principles.
Comments are closed.