Seera’s subsidiary eyes IPO for Tadawul listing

Reuters Images/Ahmed Yosri

Meanwhile, the company and the group are conducting detailed feasibility studies

Staff Writer, Mubasher

March 24, 2022

PHOTO

Riyadh – Seera Group Holding is currently discussing the initial public offering (IPO) of its subsidiary, Lumi Rental Company, to list and trade its shares on the Saudi Exchange (Tadawul).

Meanwhile, the company and the group are conducting detailed feasibility studies to cover all organisational, financial, technical, and legal aspects of the IPO.

Located in the city of Riyadh, Lumi Rental is engaged in providing car rental services.

It is worth noting that during the third quarter (Q3) of 2021, Seera suffered net losses after Zakat and tax worth SAR 72 million, an annual decline of 60% from SAR 180 million.

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