“Americana’s listing is the biggest in Saudi Arabia in 2022, a year already marked by a flurry of such offerings in the Middle East as the region attempts to deepen its capital markets. The IPO, which drew orders worth $105 billion, is the third-biggest in the United Arab Emirates, where Abu Dhabi is the capital. Saudi Arabia’s Tadawul stock exchange has been encouraging firms for years to dual list, but none had done so before Americana. The successful deal is likely to set precedent for others.” 

Middle East KFC Operator Climbs in Landmark $1.8 Billion Listing [Bloomberg]