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Abu Dhabi on November 21
Amarbal Sendo, CEO of Americana Restaurants Company, said that the simultaneous offering of the company’s shares on the Abu Dhabi Stock Exchange and the Saudi Stock Exchange “Tadawul” is an attractive option for the company, especially since its businesses enjoy a wide regional presence and a strong operational presence in the UAE and Saudi Arabia.
Sando added, in statements to the Emirates News Agency, WAM, that “Americana” expects to benefit from the increased liquidity in the Abu Dhabi Stock Exchange and the Saudi Stock Exchange “Tadawul” as the most important financial markets in the region, noting that the aim of the offering is to allow the selling shareholder to sell part of of his ownership in order to effectively manage his portfolio of assets, and support the company’s position in the local, regional and international investment community.
He said that the global markets witnessed great challenges during the current year. Despite this, the markets of the Gulf countries maintained their strong performance through many new proposals that witnessed great demand from individual investors and international institutions, which reflects the strength of the markets and the economic situation in the region.
He explained that the simultaneous offering means listing certain securities in more than one financial market, noting that once listed, investors in both financial markets will be able to trade the company’s shares, given that the company’s shares will be offered in the two financial markets simultaneously, and therefore investors in both financial markets will be able to Abu Dhabi Securities Exchange and Saudi Tadawul from transferring it between the two markets, allowing investors to benefit from greater liquidity in stocks and extended trading times.
He stated that “Americana” aims to acquire an additional market share by driving the growth of the restaurant portfolio in the markets in which it operates, given the large annual growth rates of the dining out sector, which is estimated at about 14% between 2022 and 2026, pointing out that the company It sees great opportunities to expand and spread in the markets in which it operates through existing brands and new global brands.
The CEO of Americana Restaurants Company said that the company continues to pursue important partnership opportunities that are in line with its business strategy, especially those that enhance the position of its core business in the markets.
He stated that the company does not have specific plans to acquire specific assets, however, it is constantly evaluating the opportunities that can be seized in the near term.
