CMA approves Lumi's offering of 16.5 mln shares on Tadawul

Logo of Lumi Rental Co.

The Capital Market Authority (CMA) gave the green light for Lumi Rental Co. to register and offer 16.5 million shares, or 30% of its share capital, on the Saudi Exchange (Tadawul), according to the CMA website.

The company's prospectus will be published within sufficient time prior to the start of the subscription.

The prospectus includes all relevant information that the investors need to know before making an investment decision, including the company's financial statements, activities, and management.

The approval will be valid for six months from the CMA resolution date. It will be deemed cancelled if the offering and listing of the company's shares are not completed within this period.

In December 2022, Seera Group Holding approved, during an extraordinary general meeting (EGM), the demerger of Lumi from the group in order to offer 16.5 million ordinary shares, or 30% of Lumi's capital, on Tadawul, Argaam’s data showed. 

During the same month, Seera Holding submitted an application to the CMA for Lumi’s Tadawul IPO. 

Lumi is specialized in car rental in the Kingdom. It has 25 branches, of which nine are in the Kingdom's airports.   

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