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Seera's Lumi to commence Tadawul trading next week

Seera's Lumi to commence Tadawul trading next week
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Riyadh – Mubasher: Lumi Rental Company, a subsidiary of Seera Group Holding, will start the listing and trading of its shares on the Main Market of the Saudi Exchange (Tadawul) on Monday, 25 September.

Tadawul indicated that the stock will be trading at daily and static price fluctuation limits of +/- 30% and +/- 10%, respectively, according to a bourse statement.

The fluctuation limits will be applied during the first three days of the listing until 27 September. As of the fourth trading day onwards, the daily price fluctuation limits will revert to +/- 10%, while the static price fluctuation limits will no longer apply.

Under the symbol 4262, Lumi will float 30% of its share capital on the main market, equivalent to 16.50 million ordinary shares.

It is worth highlighting that Seera began conducting detailed studies for Lumi’s initial public offering (IPO) last year, while the Capital Market Authority (CMA) greenlighted the unit's IPO in March 2023.