Follow-ups -eshrag News:
PIF-backed Americana Group adds Morgan Stanley to work on its $1bn IPO: Bloomberg
RIYADH: Americana Group, the regional operator of KFC and Pizza Hut restaurants, has added Morgan Stanley to work on a planned initial public offering that could raise $1 billion.
The planned IPO of the firm, which is backed by Saudi Public Investment Fund, could value the firm at around $8 billion, Bloomberg reported citing unnamed sources.
Morgan Stanley will work alongside First Abu Dhabi Bank, Goldman Sachs and SNB Capital for the IPO of the food company, with Rothschild & Co. as its financial adviser.
Americana is preparing for a dual listing in Riyadh and Abu Dhabi.
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