What is a simultaneous offering, and how will “Americana” shares move between “Abu Dhabi” and “Tadawul”

The simultaneous offering is defined as the listing of a particular security in more than one financial market, and in the case of “Americana Restaurants” the listing of the group on the Abu Dhabi Securities Exchange and the Saudi Tadawul

Americana Restaurants will continue to operate as a single business, but its shares will be traded on both stock exchanges. The shares will be completely simultaneous offer between the two markets, and will have the same economic and voting rights.

Once listed, it will be possible for investors in the two financial markets to trade the company’s shares (provided that the investor is eligible to trade in the two markets).

The shares will be traded in the Abu Dhabi Stock Exchange in UAE dirhams, and in the Saudi Tadawul in Saudi riyals. After listing, the market price in each market will be determined by trading activity.

Transferability of shares

Shares traded on the Abu Dhabi Securities Exchange and Tadawul Saudi Arabia will carry the same ISIN Code, but will have a different ticker code.​

Americana shares of restaurants traded on the Abu Dhabi Securities Exchange and Tadawul Saudi Arabia will be subject to the same economic rights, voting rights and other rights.​

Investors who have investment accounts in both the UAE and Saudi markets can transfer shares between the two markets.