Americana appoints Rothschild bank on possible Saudi or UAE IPO

Americana Group announced that it has hired Rothschild & Co bank to advise on a potential initial public offering (IPO).

The Group, which is considering a public share sale in the UAE or Saudi Arabia, is expected to invite banks to pitch for other top roles in the transaction in coming weeks, two sources told Reuters sources.

It should be noted that Americana is owned by PIF and an investment consortium led by Dubai businessman Mohammed Alabbar, founder of Dubai-listed Emaar Properties.

The shareholders may also consider a dual listing for the company, the sources added.

Saudi Tadawul Group CEO, Eng. Khaled Al-Hussan, said that they had talks with three companies to apply for dual-listing in Saudi market and other stock exchange.