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Dubai raises Empower's IPO size to 20% on strong investor demand
The selling shareholders, Dubai Electricity and Water Authority
Dewa and Emirates Power Investment will own 56 per cent and 24 per cent of Empower’s existing share capital, respectively, following the offering
https://www.thenationalnews.com/business/energy/2022/11/04/dubai-raises-empowers-ipo-size-to-20-on-strong-investor-demand/?outputType=amp
Very nice
The offer period will run from November 14 to 21 for retail investors in the UAE and Saudi Arabia, and until November 22 for institutional investors. Trading on both exchanges will start on or around December 6.
The IPO could raise at least $2 billion, according to people familiar with the matter, which would make it Saudi Arabia’s biggest listing this year. Final details are still under discussion and may change, the people said.
A representative for Americana declined to comment.
Americana is targeting a partial dividend distribution of about 75 percent of net profit attributable to parent for the six months to December 31. The company will pay an annual dividend from 2023, and said it plans to distribute a minimum of 50 percent of net profit.
First Abu Dhabi Bank PJSC, Goldman Sachs Group Inc., Morgan Stanley and SNB Capital are joint global coordinators for the IPO, while HSBC Holdings Plc and EFG Hermes are joint bookrunners.
Americana will be the first company to have shares traded in both Abu Dhabi and Saudi Arabia, where the Tadawul exchange has for years been encouraging firms to dual list.
The listing is part of a late-year rush of IPOs in the Middle East even as markets worldwide are hit by fears over inflation and the risk of an economic slowdown. A surge in oil prices at the start of 2022, as well as increased investor inflows, led to a flurry of listings in the Persian Gulf, which notched up its best first half on record for stock-market debuts.
Americana joins a crowded IPO calendar in the region, with Dubai district cooling firm Empower currently taking orders for an offering of as much as $543 million and private school operator Taaleem Holdings PJSC and Riyadh Cables Group both starting to gauge investor demand for their respective IPOs this week.
Americana operates restaurants for brands including Baskin Robbins, Costa Coffee and TGI Fridays as well as KFC and Pizza Hut, according to its website. The IPO is for the restaurant business only.
The firm reported revenue of $2.05 billion for the year ended December 2021, and net profit of $204 million. Alabbar’s Adeptio AD Investments SPC Ltd. bought the firm in 2016. The PIF took a 50 percent stake in Adeptio at the end of that year and Americana subsequently delisted from the Kuwait stock exchange.
https://english.alarabiya.net/business/2022/11/02/Pizza-Hut-KFC-operator-to-undergo-landmark-Middle-East-listing-
Similar business comparison
Possibly, just pointing out there seems to be more activity on listings for growth initiatives.
https://www.eaglehills.com/projects/
Mohamed Alabbar, is an Emirati businessman who is best known as the founder of Emaar Properties, the developer of assets such as the Burj Khalifa and the Mall of Dubai, as well as the chairman of Eagle Hills, an Abu Dhabi-based private investment and real estate development company. Wikipedia
The Middle Eastern operator of KFC and Pizza Hut restaurants is to undergo a landmark dual listing, in which Saudi Arabia’s Public Investment Fund and Dubai-based businessman Mohamed Alabbar will sell a 30% stake in the firm.
I have never seen this much interest in middle east investing for 10 plus years, It always seemed more conservative and based on religion beliefs in the past, They are just poring in on IPO's over their with about 10 more to come by year end. maybe they are figuring out were about one nuke away from a bunch of crap happening and getting it done now.
Helal Al Marri, Chairman of DFM, said: "Increasing investor interest and activity is a testament to the dynamism and growth of Dubai’s capital markets. This is illustrated by the DFM being one of the most active listing venues globally right now."
https://www.zawya.com/en/markets/equities/dubai-financial-markets-profits-attributable-to-owners-hike-to-24mln-in-9m-22-m3cowdxo
Saudi regulator approves dual listing of Americana Restaurants on Tadawul, ADX
https://www.zawya.com/en/markets/equities/saudi-regulator-approves-dual-listing-of-americana-restaurants-on-tadawul-adx-ttngpuef
DUBAI KEEPS THE IPO PIPELINE HUMMING
It was in November last that Dubai announced the plans to roll out 10 IPOs from among its owned enterprises and raise the DFM market cap to Dh3 trillion. DEWA was the first of these, and the strategy has been to list blue-chips and pull in sustained shareholder support by offering solid dividend yields.
https://gulfnews.com/amp/business/markets/dubai-schools-operator-taaleem-is-next-up-for-an-ipo-and-listing-on-dfm-1.1661827622115
Good laugh for a Monday should have said pspw investor
Great posts future
Thanks for digging
Our world today this was at the end of the first article
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Removal for delinquent chattering
Thanks for the info Joe
Gotta tell you folks a little stuff
So the last year I’ve been fighting some cancer not real bad but they run me through the chemo and radiation ??
So I’m convinced they see what you can tolerate and bring you close to death and bring you back. If this doesn’t bring you closer to God. Then I don’t know what will.
So I go to one of the best cancer hospitals in the USA and they started me on my chemo for 9 weeks. I’m pretty sick and had been praying regularly Joe,Lance and Marty had been trying to stay in touch with me but I lost my voice and was having trouble eating and functioning.
They were staging me for radiation also And I was feeling bad and my radiation doctor walks in who I had never meet or seeked out his first name was Dunkajin and he was from Albania. I was in shock and on the edge of crying when this happened. The long timers here understand the story from the names of our first projects
As time went on he has become a friend and every time I go in we talk about Albanian. I explained the Dubai empire and the names of our first 3 projects. His father knows Ekrem Lluka and is well versed on the country and constantly corrects my pronouncing of the cities in Albania.
So I seen the doc last week and he’s flying to Vlora to a resort for vacation this next week, I asked him to seek info on the shala project he asked what part of the country I said up north by teth. He said it’s pronounced teeth lol.
So why am I yacking on here about this.
I believe everyone is one person away from someone that can bless your life
Some here know Wolfgang who knows Falak. I believe God gives blessings to people and it’s our job to create blessings for others it’s the work of God
I don’t for a minute believe it was just by chance that a doctor From Albania walks into my room. I was lead there by God it was a message from above. But believe what you want. I have lived enough life and seen things happen that I can’t explain but are the true message from God watching over us. You can pray for money that doesn’t work. Your faith in God will prevail and it’s our responsibility to create and spread the blessings.
Take Care this will work out when it’s time for the blessings.
Interactive brokers has had a bid and ask for a couple weeks now. No one else I’ve seen
Could have been a mm cleaning up or a liquidation of a account
Form T trading is especially suited for overseas investors since they may conduct the bulk of their U.S. trading when their markets are open but U.S. markets are closed.
Form T must also be used to submit last sale reports of over-the-counter (OTC) transactions in equity securities, for which electronic submission is not possible. The objective of the Form T report is to maintain market transparency and integrity.1
So is Nick
Look at the new team below
https://www.listingpartners.com/
It's all aligning nicely check this out, I don't see Enzo, several recent reply's on Linkiden
https://www.listingpartners.com/team/
The government cannot say anything until the company and government agree to announce and proceed,its in there terms per Gordini
Agree. They keep bringing up the past projects of theth and dunkijin and don’t mention the real facts that several were canceled because they were in park areas and there are 3 to be built. Same story uninformed media release writing to get people worked up.
U.S. SOCEUR to locate a forward-based SOF headquarters in Albania, PM calls it 'fantastic news'
https://argumentum.al/lajmi/2022/01/u-s-soceur-to-locate-a-forward-based-sof-headquarters-in-albania-pm-calls-it-fantastic-news/
I guess we wait for the cricket noise, Lol
No thank you
You da man
They have 18 months from the end of September 2021
Deadline is the end of March 2023
After the 15c2-11 compliance date, shell companies will be able to trade for 18 months until they become an operating company. If they don’t become an operating company in 18 months, they will be de-listed. This also applies to OTC companies that become shells after the compliance date– they will have 18 months to demonstrate they are an operating company before getting de-listed.
https://blog.colonialstock.com/sec-denies-anticipated-otc-expert-market/
Kosovo declares a state of emergency due to the energy crisis
30-12-2021
Kosovo has officially declared a state of emergency due to the energy crisis.
The decision of the Government for emergency measures in energy supply was voted in the Assembly of Kosovo today with 57 votes in favor, none against and 17 abstentions.
Emergency measures in energy supply include: imposing restrictions on energy supply to consumers and imposing special obligations on energy enterprises.
Let us remember that Albania has guaranteed assistance to Kosovo in these difficult days, especially for the holidays. Prime Minister Edi Rama announced yesterday that Albania will supply electricity to Kosovo on December 31 and January 1, 2022 to give citizens the opportunity to celebrate these days.
The Prime Minister of Kosovo, Albin Kurti thanked Rama today for his readiness.
"We thank the Prime Minister Edi Rama for the support. Our Minister of Economy has made such a request to Albania. We have power plants, they have hydropower plants.
"It is about 2 days that are important because they are the change of years and then we will have the opportunity to help them in case of need next summer," said Kurti.
As of December 22, consumers in Kosovo are facing electricity cuts. The energy situation has deteriorated as energy consumption can no longer be covered by the production capacities of the Kosovo Energy Corporation./Source: Shqiptarja.com
?????????? Albania will give Kosovo energy for the two days of the holiday that divide the years??
??Minister Belinda Balluku communicates the decision taken??
I understand what you’re saying. If one was to look at just the information provided about the stock, there’s no reason for any of us to be hear. But that’s just a snapshot. This is a investment in faith, some here worship money, you can read it in their posts, but you can distinguish one’s who have faith and understand this will be a blessing to help others.
He is talking about the plant that was built to generate electric from diesel fuel in Volare area that was never used, Chevron Or Shell was in on this, they are getting it converted to Natural gas to generate electric Nothing else going on in the country I have found
Also Statkrafts floating solar plant sank in their own HPP reservoir where they build one of their dams, maybe they got that pulled up from the bottom, Didn't hear to much about that one.
http://www.3power-energy.com/ Under maintenance
3powershala.com
is parked free, courtesy of GoDaddy.com.
Get This Domain
No problem thanks for your constant searching
Falaknaz, brother-in-law, Sultan Zarawani,
Oh boy He got hit in the head
https://www.dailymotion.com/video/x70k716
DescriptionSultan Mohammed Zarawani is a former United Arab Emirates cricketer. He played seven one-day internationals. After the 1996 Cricket World Cup, he was banned for life when he criticised the officials of the Emirates Cricket Board. Wikipedia
by Rituraj Borkakoty
Published: Mon 22 Nov 2021, 7:18 PM
When Abdul Rahman Falaknaz first played cricket here in UAE, ‘nobody had even heard the name of this sport.’ That was in 1958 when Falaknaz had come home on a holiday from Bombay (now Mumbai) and got his friends to play the game of cricket
With him in Dubai.
More than six decades later, the fire still burns bright for Falaknaz. He still talks about cricket as passionately as he once played the sport for his school team in India.
Naturally, the Chairman of the Dubai Cricket Council couldn’t hide his joy when asked to reflect on UAE’s resounding success in hosting a cricket World Cup.
“First of all, as an Emirati, I’m very proud. You know, the most amazing thing is that an Arab country hosted a cricket World Cup. And this was not understood at all by anybody. Nobody even thought that there would be facilities in the Arab world to host cricket because cricket is not our game,” Falaknaz said while talking to local media in Dubai.
“But there are people who have played the game. I played in India. In fact, I played quite well for my school in (Bombay). My manager at that time said if I had stayed in India, I could have played for India. That’s what he told me when I was 16 years old!”
Falaknaz, whose brother-in-law, Sultan Zarawani, captained UAE in the 1996 World Cup, even offered to break the deadlock in India-Pakistan bilateral cricket ties. The two nuclear-armed South Asian neighbours haven’t engaged in bilateral cricket duels since 2013, due to mounting political tensions.
But Falaknaz believes UAE could be the perfect neutral venue for the two countries.
“The best thing would be to get India-Pakistan matches here. When Sharjah used to host India and Pakistan all those years ago, it was like a war. But it was a good war, it was a sporting war and it was fantastic,” he said.
“I remember Raj Kapoor came once with his family. During the awards night, he took the mic and said, ‘how wonderful it is to have these India-Pakistan battles in Sharjah. Cricket brings people together, cricket has brought us together and let us remain this way’.
“So this is what we would like to do. If we can convince India to come and play here against Pakistan once a year or twice a year, it would be fantastic.”
Bollywood legend Raj Kapoor (right), his wife Krishnna (left) and legendary singer Lata Mangeshkar at the Sharjah Cricket Stadium. (KT file photo)
Bollywood legend Raj Kapoor (right), his wife Krishnna (left) and legendary singer Lata Mangeshkar at the Sharjah Cricket Stadium. (KT file photo)
IPL and Olympics
With the NBA making the ground-breaking announcement to bring their bandwagon to UAE for a couple of matches from next year, this country’s position as a global sporting hub was further enhanced.
Falaknaz says the Indian cricket board should take a leaf out of NBA’s book by hosting a few Indian Premier League (IPL) matches every year in UAE.
Having salvaged the Covid-stricken IPL last year as well as this year, UAE could still play a big role in the game’s biggest franchise league even after the world brings an end to the pandemic.
“It all depends on BCCI to decide what they want to do. We are very friendly with them. They have seen our potential. I would invite them to come and hold their IPL, start here and finish in India or start in India and finish in Dubai,” he said.
“And they have been looked after so well that they are very happy with us. I think we can still help and do what we can for cricket, as much as our friends want us to do, we will do it.”
While revealing his admiration for His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the veteran Emirati sports administrator said the glorious success of the Expo 2020 Dubai has proved that UAE is also capable of hosting the Olympics.
“I was also in the UAE Olympic Committee for 13 years. You know, we would always like to be number one. Sheikh Mohammed wants to be number one, he doesn’t want to be number two. He says always that number one is remembered and number two is forgotten. You remember Roger Federer all the time, but you forget some other people who played with him. So yes, we are in a position to host the Olympics,” he said.
https://www.khaleejtimes.com/cricket/it-would-be-fantastic-to-hostindia-pakistan-matches-in-uae-says-abdul-rahman-falaknaz
“I think we have the infrastructure, a little bit more will be required (to host an Olympics). But as you have seen, the infrastructure for Expo 2020 Dubai has been fantastic. Everybody is praising what they have done.”
Well at least there not going to strip there rights from the project
Very grateful I have had the opportunity to convert a substantial amount of shares into a Roth IRA. My major conversion was at .0032 and then .03. I had pondered this in the past but didn’t want to pay for the cost of conversion at higher prices. I’m still not sure pspw was intended to be a energy company with the thought they would have acquired another project in 11 years time. I’m hoping we are winding down on this venture.
Do you still hold shares?