Americana announces investor allocations for Saudi-UAE IPO

Americana announces investor allocations for Saudi-UAE IPO
Americana operates 1,800 restaurants across the region, including franchises for KFC, Pizza Hut, Hardee’s and Krispy Kreme, among many others. The company has announced a revised timetable for its IPO.
Short Url
Updated 04 December 2022

Americana announces investor allocations for Saudi-UAE IPO

Americana announces investor allocations for Saudi-UAE IPO

Americana Restaurants International Plc, the largest out-of-home dining and quick service restaurant operator in the Middle East and North Africa and Kazakhstan, has announced investor allocations and the revised timetable for its initial public offering — the historic, first-of-its-kind concurrent dual listing on the Abu Dhabi Securities Exchange and the Saudi Stock Exchange.

As announced on Nov. 24, the final price for the shares to be sold in the offering has been set at 2.62 dirhams ($0.70) per share in the UAE and SR2.68 ($0.71) per share in Saudi Arabia.

The concurrent book building process generated orders of approximately $105 billion in aggregate from qualified institutional investors as well as individuals and other investors in a number of countries, including the UAE and Saudi Arabia. The UAE retail offer and the KSA retail offer were oversubscribed by approximately 48.2 times  and 2.8 times, respectively, and the institutional offer was oversubscribed 65.5 times, resulting in an aggregate oversubscription level of 58 times. A total of 283,245 retail subscribers are participating in the offering in Saudi Arabia.

Following the conclusion of the concurrent book building process, 80 percent of the offering (2,021,671,944 ordinary shares) has been allocated to the institutional offer; 10 percent to the UAE retail offer (252,708,993 ordinary shares), and 10 percent to the KSA retail offer (252,708,993 ordinary shares). Americana Restaurants allocated a minimum of 1,000 offer shares to each subscriber in the UAE retail offer and a minimum of 892 offer shares to each subscriber in the KSA retail offer.

The IPO will be concluded through a dual listing process on ADX and the Saudi Exchange, with admission of the offer shares to listing and trading now expected to be on Dec. 12, subject to receiving all required regulatory approvals.

Mohamed Ali Rashed Alabbar, chairman of Americana Restaurants, said: “This is a proud day for all at Americana Restaurants, a testament to the immense value that has been created by the business since inception and, more recently, through its transformation journey. For the offering to be priced at the top of the range is a clear demonstration of the opportunity that we present to investors, and that was further proven by aggregate oversubscription of approximately 58 times.

“We are looking forward to the next step of our growth journey and working toward future value creation. We are equally proud to have taken the final step toward a historic first-ever concurrent dual listing on ADX and the Saudi Exchange — further enhancing the depth and maturity of the UAE and Saudi capital markets. We look forward to welcoming our new shareholders in December.”


'Your Ticket Your Visa': Saudia first airline to offer stopover transit visa

'Your Ticket Your Visa': Saudia first airline to offer stopover transit visa
Updated 31 January 2023

'Your Ticket Your Visa': Saudia first airline to offer stopover transit visa

'Your Ticket Your Visa': Saudia first airline to offer stopover transit visa

Saudi Arabian Airlines, the Kingdom’s national flag carrier, has announced the launch of a new service that provides guests with even easier access to the Kingdom through a digital integration system that links transit visas with flight tickets.

The “Your Ticket Your Visa” service will allow guests to stay in the Kingdom for up to 96 hours, during which they can travel around the Kingdom and perform Umrah. The first-of-its-kind service has been introduced in collaboration with the Ministry of Foreign Affairs, Ministry of Interior, Ministry of Hajj and Umrah, Pilgrims Service Program, and Saudi Tourism Authority, and covers all international airports in Saudi Arabia. 

The digital integration with the Ministry of Foreign Affairs facilitates the issuing of the transit visa and links it to the flight ticket within three minutes.

Captain Ibrahim Koshy, CEO of Saudia, said: “The launch of this innovative and seamless stopover visa is the first-of-its-kind in the aviation industry and a significant milestone in our digital transformation program. It is a testament to Saudia’s commitment to supporting the Kingdom’s strategic goal of reaching 100 million visits by 2030 and we are confident it will positively impact the growing number of transit passengers while enhancing our position as a hub that connects east and west. The new service will also encourage passengers to perform Umrah, visit key destinations and attend events and Saudi seasons.”

The launch of the service comes in line with Saudia’s commitment to promoting King Abdulaziz International Airport in Jeddah and strengthening its role in the region by configuring the airline’s flights coming from the east and departing to the west. It will facilitate travel procedures by collaborating with the Jeddah Airports Company, and coordinating with the Saudi Tourism Authority to provide incentive packages for those wishing to benefit from the “Your Ticket Your Visa” service.

The new service is part of the digital services provided by Saudia via its website and smart applications, which are constantly evolving to facilitate and simplify travel procedures and make a shift in the after-sales services.


Two holidays in one: Qatar Airways offers stopover packages

Two holidays in one: Qatar Airways offers stopover packages
Updated 30 January 2023

Two holidays in one: Qatar Airways offers stopover packages

Two holidays in one: Qatar Airways offers stopover packages

Qatar Airways is offering their passengers an opportunity to stay in Qatar before heading off to their final destination with stopover packages. Developed in partnership with Discover Qatar, the packages offer the best value for passengers who are looking to visit two destinations in one trip. 

Travelers from Saudi Arabia can now experience Qatar’s famous hospitality by booking their accommodation in a selection of luxurious 4-star hotels starting from $14 per person per night. During their stopover in Qatar, passengers can enjoy the exciting entertainment, sports and cultural events, which are part of the “Feel Winter in Qatar” campaign.

Qatar Balloon Festival

The 10-day festival will include mesmerizing sunrise balloon launches, the “Night Glow,” live entertainment and mouth-watering food kiosks and trucks. The festival also includes a variety of performances by DJs, singers and music bands, dancers, magic shows, violinists and much more.

Qatar Live

Following the successful program during the 2022 FIFA World Cup, Qatar Tourism’s “Feel Winter in Qatar” campaign is a dynamic lineup of live performances by acclaimed local, regional and international artists through the flagship activation, which started on Jan. 26 and will last through the season.

GKA Kitesurfing Tournament

Qatar Tourism and Qatar Airways are bringing a water sport world cup to Doha, kicking off the New Year with thrilling sporting events. Fuwairit Kite Beach will house the Qatar GKA Freestyle Kite World Cup 2023 from Jan. 31-Feb. 4.

Qatar TotalEnergies Open 

The professional women’s tennis tournament is back for its 21st edition, which will take place in the outdoor hard courts of the Khalifa International Tennis and Squash Complex from Feb. 13-18.

Doha Jewelry and Watches Exhibition

The event will take place from Feb. 20-25 at the Doha Exhibition and Convention Center and will feature luxury watches, necklaces, rings, earrings, diamonds, gold and silverware. The exhibition will host 500 brands and 30,000 visitors from more than 175 countries.

Qatar International Food Festival

The Qatar Tourism initiative celebrates the country’s diverse food, beverage, and hospitality offerings. The 12th edition is slated to be launched from March 1-11.

Ramadan Bazaar

Travelers can celebrate the most important time of the year with Qatar Tourism’s Ramadan Bazaar where they can spend their evenings, after breaking the fast, with family-friendly activities around Qatar for the first time. 

Dersenish Aresandiran, vice president Middle East, Caucasus and Pakistan, said: “With our great value stopover packages, we welcome visitors to experience Qatar’s unrivalled hospitality before departing onto their vacation to our network of over 150 destinations. This uniquely designed experience will give travelers from the Kingdom of Saudi Arabia, the opportunity of two holidays in one journey, where they can also get the chance to experience our world-renowned services.”

To book a stopover in Qatar, passengers have to book their flight tickets on qatarairways.com. Then they can book their hotel stay with discoverqatar.com. 

The airline currently operates more than 100 weekly flights to six key cities in the Kingdom. The recent resumption of operations to Taif and frequency increase to Al-Qassim to meet the growing inbound and outbound travel demand, is part of the state-owned airline’s ongoing efforts to expand its services in Saudi Arabia and to provide greater choice and seamless connectivity to its passengers.


Al-Borg Diagnostics signs partnership with International SOS

Al-Borg Diagnostics signs partnership with International SOS
Updated 30 January 2023

Al-Borg Diagnostics signs partnership with International SOS

Al-Borg Diagnostics signs partnership with International SOS

Al-Borg Diagnostics signed a strategic partnership agreement with International SOS Medical Complex, to operate and manage its medical laboratories for a period of five years. The signing ceremony took place on Jan. 26, where Al-Borg Diagnostics was represented by its CEO Dr. Saeed bin Mohammed bin Saeed Al-Amoudi, and International SOS Medical Complex was represented by General Manager Paolo Abbate.

This step is in line with the expansion of Al-Borg Diagnostics through its strategic partnerships and seeks to achieve its vision to be the preferred diagnostic medical laboratory for all customers. Al-Borg conducts more than 16.3 million tests per year and has 85 international accreditations.

Al-Amoudi said: “Al-Borg Diagnostics is regarded as a catalyst for the healthcare transformation in our beloved Kingdom and it is always acting in line with Vision 2030. Today, our partnership with International SOS comes to further empower the healthcare sector by providing yet another facility with our unique and high-quality patient care services backed by state-of-the-art technology and 25 years of experience.”

Meanwhile, Abbate said: “Merging the vast local know-how and footprints of Al-Rushaid Group and the global medical expertise of International SOS around the world, our vision is to be the leading provider of medical services solutions in the Kingdom of Saudi Arabia, and to do that we select partners like Al-Borg Diagnostics that align with our vision and our values of passion, expertise, respect and care to provide the best possible healthcare to our patients.”

International SOS — Al-Rushaid is a joint venture between International SOS and Al-Rushaid Group. Through this partnership that was founded in 2018, the joint venture provides a complete and integrated medical services solution to clients in Saudi Arabia, onshore and offshore. In addition, it operates Borg Al-Shifa Medical Complex in Dammam and International SOS Medical Complex in Alkhobar, a state-of-the-art facility, which offers dental, obstetrics and gynecology, pediatrics, internal medicine, family medicine and ophthalmology specialities. It also features an emergency department and one of the largest medical laboratories to be hosted in a medical complex in the region.

Al-Borg Diagnostics Company was established in 1998 in Jeddah and expanded to become the largest chain of private laboratories in Saudi Arabia and one of the largest in the Gulf. It has more than 72 branches in the Kingdom and is present in eight countries with over 1,000 doctors, specialists and technicians.


AD Ports Group recognized for investment in people

AD Ports Group recognized for investment in people
Updated 30 January 2023

AD Ports Group recognized for investment in people

AD Ports Group recognized for investment in people

AD Ports Group announced that it has retained its “We Invest in People” platinum-level accreditation for the fourth consecutive year, following a thorough strategic review assessment. It was the first organization in the region to be awarded the prestigious IIP Platinum Accreditation by Investors in People in 2019.

This accreditation is the highest accolade the “Investors in People” bestows and is the highest that can be achieved against the IIP standard. Only 2 percent of 50,000 participating organizations from 66 countries reached this level. It acknowledges the group for the clarity of its vision and its high-performing culture that consistently prioritizes a healthy and highly productive work environment, by ensuring best-practice employee engagement, continuous upskilling and improved well-being. AD Ports Group significantly expanded its operations globally in 2022, with major investments and joint ventures in markets around the world. 

Despite its rapid growth, the group has succeeded in maintaining an agile work culture that provides employees with opportunities to learn and grow in their chosen careers and ensures engagement and retention. This has consequently contributed to the overall success of the group, as well as its employees.


realme launches new ‘Spire’ strategy with 10 series

realme launches new ‘Spire’ strategy with 10 series
Updated 30 January 2023

realme launches new ‘Spire’ strategy with 10 series

realme launches new ‘Spire’ strategy with 10 series

With a vision to deliver forward-looking technology to meet the needs of future generations, realme, the world’s fastest-growing mobile phone brand, has released its new “Spire” strategy with the launch of the realme 10 series. realme 10 Pro+ delivers a segment-first 120 Hz curved display with narrow bezels and 2,160 Hz PWM dimming.

Back to the original intention

With the 10th generation of realme number series, realme leaps to the “new vision.” Four years ago, realme started the brand with a vision to empower millions of youths around the world with access to leap-forward technologies at an accessible price point. realme has achieved massive success over the past four years, becoming the fastest growing smartphone brand ever. However, it has in fact been a tremendous challenge.

To keep focus among all these challenges, realme decided to take things back to its original intention: Empower youth through leap-forward technologies because the company knows the power that technology can have when made accessible to all. realme will focus on making stand-out products that fans love, with more focused designs and more focused technologies.

Now, every number series product will lead with one major leap-forward technology, which will be the spire of a strong realme product tower. And to make the product experience better, every product will also be supported with superior design, performance and experience. The three bases will be a stable foundation of this tower — it is about the entire product experience, from technology to design to performance and more.

realme Global Institute of Leap-forward Technology

To improve the product experience even further, realme is making major investments in its new Global Institute of Leap-forward Technology. Empowered with supreme talent, realme created the institute consisting of more than 60 leading tech experts, in addition to the current R&D team that comprises 60 percent of the entire company.

realme also has the technological strength of focusing on the six major fields of charging, photography, display, gaming, chipset and industrial design to create the future of leap-forward technology.

And as a young brand, this will lead to more agile and adaptive development, allowing realme to deliver greater speed and quality, across technology, product and marketing.

The success of realme’s number series, alongside its C series, saw the brand perform exceptionally well across the Middle East and Africa in 2022. With larger investments being made toward the products’ R&D, as well as a focus on product quality and long-term growth, realme ended 2022 on a positive note, with a 57 percent YoY growth rate.

Looking to the year ahead, realme will continue to pursue its Spire strategy, focusing on developing its talent base and technological strengths while cutting product lines and improving efficiencies with a focus on its core product lines. With the launch of its 10 Pro+, the year ahead looks promising. To date, realme’s strategy of improving its products to benefit users’ lives has proven effective. The realme 9 Pro series and 9i 5G performed exceptionally well in Saudi Arabia, proving that affordability, design and a great camera resonate well with the local audience.