DUAL LISTING WILL MAKE IT HARD TO MISS

With Americana shares being offered on two exchanges - Saudi Tadawul and ADE - we believe there will be ample liquidity from regional and international investors at the current price range. In addition, the promised dividends makes it an attractive offering for dividend-seeking investors.

The Americana IPO is expected to raise around SR6.4 billion to SR6.8 billion based on a price range of SR2.55-SR 2.68 per share. This will make it the biggest IPO on Saudi Exchange this year.

There were two additional retail companies listed on the Saudi Exchange this year - Amwaj International and Jahez International. Shares of both are down more than 15% since listing..

—Junaid Ansari, Senior Vice-President of Investment Strategy and Research at Kamco Invest