Americana Group is in initial talks to discuss the possibility of offering a stake in it to the public.
According to Arabiya Net, this offering is expected to raise one billion dollars, and the listing will be either in Saudi Arabia or the UAE and may be a double listing, according to Bloomberg sources.
The Americana Group is a subsidiary of Adeptio, owned equally by Emirati businessman Mohammed Alabbar and the Saudi Public Investment Fund, and is the operator of a number of restaurant chains in the Middle East, such as Kentucky Fried Chicken (KFC). Pizza Hut, Baskin Robbins, and Costa Coffee.
Americana was last valued at $3.5 billion when it was acquired and delisted from the Kuwait market in 2017.
Bloomberg sources added that talks are ongoing but no advisers have yet been appointed and it is not yet clear whether the IPO will go ahead.
