Saudi news

“Sera” seeks the approval of the Market Authority to offer 30% of “Lumi Leasing”

Seera Holding Group – “Sera” announced that it submitted a request to the Capital Market Authority to offer 16.5 million ordinary shares, representing 30% of the capital of Lumi Leasing Company, for public subscription, and to list its shares in the main Saudi market.

Seera said in a statement on Tadawul Saudi Arabia today, Thursday, that the submission of the request came after the approval of the shareholders during the extraordinary general assembly meeting to dismantle the merger of Lumi from Seera.

She added that the expected date for the Authority’s approval of the request to register and offer “Lumi” shares to the public, and the Saudi Stock Exchange’s approval of the request to list “Lumi” shares in the Saudi main market, is before the end of 2023 AD.

Seera Group Holding Company, “Sira”, had announced the completion of the study of the possibility of an initial public offering of its subsidiary Lumi Leasing, and its conclusion that the proposed initial public offering would constitute a de-merger, and therefore it is subject to the approval of the “Sira” shareholders.

Lumi Rental Company is a wholly owned subsidiary of the Group, headquartered in Riyadh, Saudi Arabia, and engaged in the provision of car rental services.

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