The Clap
Mohamed Alabbar, Chairman of Americana (6015), expects to earn $900mn from the company’s IPO.
What
Mohammed Alabbar’s remaining stake in Americana is now valued at approximately $1.98 billion, based on the offering price, making him one of the richest residents of the UAE with a fortune of $1.3 billion, according to Bloomberg.
So What
Mohamed Alabbar is best known for being the founder of Emaar Properties, the mega real estate company in Dubai that built the tallest skyscraper in the world.
His investment in fast food helped increase his wealth to become one of the richest businessmen in the Middle East.
Now What
Americana wants to capture a bigger piece of the billion-dollar restaurant sector, according to Mohammed Alabbar.
