Spinneys Dubai LLC, the franchisee of the supermarket chain in the United Arab Emirates and Oman, is planning an initial public offering of the business in the second quarter of 2024, three sources with direct knowledge of the matter said.
Americana Restaurants, the Middle East and North Africa franchisee of fast food restaurants KFC and Pizza Hut, as well as a seller of frozen foods, debuted in a dual listing in Abu Dhabi and Riyadh in December. Middle Eastern companies still raised $5.3 billion in the first half of this year through 23 market debuts.
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