Next Monday, corresponding to December 12, will witness the listing and start of trading in the shares of Americana International Restaurants PLC, in the main Saudi market, in a double and simultaneous listing in Saudi Arabia and the UAE.
According to Arabiya Net, the Saudi Stock Exchange (Tadawul) announced that the listing will be with the trading code 6015 and the international code AEE01135A222.
Tadawul said that the daily price fluctuation limit will not be applied to Americana Restaurants shares for the first three days of listing, with the fixed price fluctuation limit being applied at 10%, up or down.
Starting from the fourth day of trading, the daily price fluctuation limit will be applied to be 10% up or down, and fixed limits for price fluctuation will be abolished, according to trading and membership procedures.
Americana Restaurants received $105 billion worth of orders from its dual IPOs in the UAE and Saudi Arabia, which is 58 times more than the target amount of $1.8 billion.
The strong demand led to setting the share price at the upper end of the price range of 2.68 riyals per share in Saudi Arabia, equivalent to 2.62 dirhams per share in the UAE.
At this pricing, Americana Restaurants was valued at approximately $6 billion.