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Saudi Arabian auto rental firm Lumi on Friday announced its final IPO offer price of 66 Saudi riyals ($17.60) per share, at the top of the range indicated last week.
The firm is offering 16,500,000 shares, or 30% of its issued share capital.
The price implies a total offering size of SAR 1.089 billion and a market capitalization at listing of SAR 3.63 billion, Lumi, one of the largest auto rentals in the kingdom said in a statement.
The institutional book-building process generated an order book of approximately SAR 102.9 billion and was 94.5x oversubscribed, it added.
The retail subscription will take place on Tuesday, 12 September.
(Writing by Brinda Darasha; editing by Seban Scaria)
