Saudi Arabia approves dual listing of Pizza Hut, KFC franchisee in Kingdom and UAE

Americana has approval to sell 30 per cent of its shares, and will be the first group to trade in both the UAE and Saudi Arabia



Photo: Reuters
Photo: Reuters

By Reuters

Published: Tue 1 Nov 2022, 12:23 PM

Last updated: Tue 1 Nov 2022, 12:24 PM

On Monday, Saudi Arabia's market regulator said that it had approved a concurrent and dual listing of Americana Group, the Middle East and North Africa franchisee of fast-food chains KFC and Pizza Hut, in the Kingdom of Saudi Arabia and the United Arab Emirates (UAE).

Americana has approval to sell 30 per cent of its shares, and will be the first to trade in both the UAE and Saudi Arabia.

The Capital Market Authority said the approval was for a dual registration in the two countries and an offering of 2.53 billion shares.

Americana is owned by Saudi Arabia's Public Investment Fund (PIF) and an investment consortium led by Dubai businessman Mohammed Alabbar, founder of Dubai-listed Emaar Properties.

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