Seera Group’s car rental unit Lumi considers joining Saudi IPO wave

RIYADH: Riyadh-based Lumi, Seera Group’s car rental brand, could soon be joining the series of initial public offerings in Saudi Arabia.

Seera along with its rental unit are currently undergoing feasibility studies in preparation for a prospective IPO, the group said in a bourse filing.

The offering is subject to obtaining necessary regulatory approvals, including but not limited to the Capital Market Authority and the Saudi exchange, Tadawul.

No further details were disclosed. 

“Any material developments will be announced in due course,” it stated.