Riyadh – Mubasher: Seera Group Holding has completed the sale of its stake of around 1.24 million shares in Uber for SAR 380 million.

The transaction has yielded SAR 164.60 million in additional gains for the group in the period after September 2023, according to a bourse filing.

Seera said that the deal comes in line with its strategy announced in November to achieve long-term and sustainable returns for shareholders.

The group’s stake in Uber was originally a stake in Careem which was acquired by Uber in March 2019 for $3.1 billion.

Seera Group shifted to profitability in the first nine months (9M) of 2023, recording net profits after Zakat and tax of SAR 149 million, compared to a net loss of SAR 77 million in 9M-22.