Lumi’s shares are intended to be listed on the Saudi Exchange’s Main Market
Lumi, one of the leading car rental and leasing companies in the Kingdom of Saudi Arabia recently announced its intention to proceed with an initial public offering of its ordinary shares on the Saudi Exchange’s Main Market. The net proceeds of the Offering will be received by the Selling Shareholder, Seera Group Holding (formerly known as Al Tayyar Travel Group).
The planned IPO marks an important milestone in Lumi’s growth journey, during which time it has become one of the leading car rental companies in the Kingdom. Lumi is focused on building a strong pipeline of future revenue and asset growth, achieving greater scale and market share, and further growing its operations and profitability.
“The IPO provides an opportunity for investors to participate in a sector that is benefitting from powerful macroeconomic and structural tailwinds and is positioned for significant growth. With our own growth accelerating, this is an exciting time to invite investors to share in our onward journey of success,” commented Engineer Mohammed Bin Saleh Al-Khalil, Chairman, Lumi.
“Our service offering across rentals, leasing and used car sales caters to a wide client base, with industry-leading customer service delivered through an omnichannel platform,” remarked Syed Azfar Shakeel, CEO, Lumi.
