Lumi to make debut on TASI on Sept. 25

Logo of Lumi Rental Co.

Lumi Rental Co. will start trading on the Saudi Exchange (Tadawul) on Monday, Sept. 25, under the symbol 4262 and ISIN code SA15SH122J13.

Shares will trade with ±30% daily and ±10% static price fluctuation limits in the first three days, Tadawul said in a statement.

From the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10%, while the static price fluctuation limits will no longer apply.

In a separate statement, the Securities Depository Center Co. (Edaa) announced depositing the subscribed shares of Lumi Rental Co. into the accounts of eligible shareholders today, Sept. 20, according to a statement to Tadawul.

Lumi floated 16.5 million shares, or 30% of its SAR 550 million capital, divided into 55 million shares, on Tadawul. Seera Holding Group, which currently owns 100% of Lumi, sold the shares at SAR 66 each, according to Argaam's data.

The institutional offering was 94.5x covered. The total value of orders during the book-building process reached nearly SAR 102.9 billion.

The individual offering was 11.5x oversubscribed, with a demand size of about SAR 1.25 billion by 124,900 subscribers.

Individual investors will receive a minimum of four shares each, while the remaining shares will be allocated on a pro-rata basis, with an average allocation factor of 0.1865%.

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