Overview: Americana Restaurants (‘AMR’) is a leading franchise operator of several globally recognized brands; KFC, Pizza Hut, Hardee's, Krispy Kreme, TGIF, Costa Coffee, Peet’s Coffee and Baskin Robbins, in the MENA region and Kazakhstan.
Our services: HSBC acted as a Joint Bookrunner on the USD1.8 billion IPO of AMR on the Abu Dhabi Securities Exchange (ADX) and Saudi Exchange (Tadawul). HSBC was at the forefront of an extensive investor engagement process, generating valuable investor feedback and a large number of investor meetings throughout the IPO, allowing the company to gain valuable valuation pricing and demand indications from investors.
About the transaction: The pre-marketing phase generated great interest from lenders, providing strong momentum leading up to general syndication; it was launched on both sides of the Atlantic in the first week of January 2022 to capture full market attention. The deal attracted significant investor engagement, which translated into both the EUR and the US book being heavily oversubscribed, despite launching in the midst of a volatile market backdrop globally.
How we differentiated: Through this dual-listing process, HSBC proved its unique value add through seamless collaboration between on-the-ground teams in United Arab Emirates and Saudi Arabia with support from London. HSBC Global Research actively supported the investor education process.
The transaction demonstrates HSBC’s ability to design and execute precedent setting IPOs in Saudi Arabia and UAE markets and further enhances our position as the leading ECM platform in the region.