Seera Holding offers 30% of Lumi in Tadawul Saudi Arabia
Lome Rental Company
Equivalent to 16.5 million shares
Dubai – Al Arabiya.net
Posted on: August 24, 2023: 07:40 PM GST Last updated: August 24, 2023: 08:34 PM GST
Saudi Fransi Capital, the financial advisor, subscription manager, institutional subscription book manager, and underwriter, announced the public offering of Lumi Rental Company operating in the field of car rental, the company’s intention to offer its shares for an initial public offering and the listing of its ordinary shares in the main market of Tadawul Saudi Arabia.
And she added, in a statement, that Lumi Leasing, the company obtained Tadawul Saudi Arabia’s approval for a request to list its shares in the main market on March 27, 2023 AD, and also obtained the approval of the Capital Market Authority for its request to offer 16.5 million ordinary shares (representing 30% of the company’s shares) for public subscription on March 29, 2023 AD. .
The company stated in the prospectus that the final price of the offering will be announced on September 7, 2023 AD, after the process of building the order book for institutions, which takes between August 30 and September 5, and the subscription period for individuals starts from September 12, and the allocation process begins on September 21.
It said that the net proceeds of the offering will be received by the selling shareholder, who is the Seera Holding Group, formerly known as Al Tayyar Travel Group.
Lumi operates in the field of car rental in the Kingdom and provides long-term leasing services to customers in the corporate sector and the government sector, and provides short-term leasing services and selling used cars that were used in the operations of the two sectors.
The current capital of the company is 550 million riyals, distributed over 55 million shares, with a nominal value of 10 riyals per share.
The company specified the subscription to the offering through the participating classes, and this segment includes the classes that are entitled to participate in building the book of orders. In the event that there is sufficient demand by individual subscribers, the Subscription Manager has the right to reduce the number of Offer Shares allocated to the participating groups to a minimum of 14.85 million shares representing 90% of the total Offer Shares.
As for the second category, they are individual subscribers and include Saudi natural persons, in addition to any non-Saudi natural person residing or a citizen of the Arab Gulf Cooperation Council countries who have a bank account with one of the receiving entities and are entitled to open an investment account with a financial market institution. A maximum of 1.65 million shares representing 10% of the Offer Shares.
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2023-08-24 15:40:00
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