Seera’s Saudi holding group, Sera, announces IPO for Lumi Leasing
Introduction
Seera’s Saudi holding group, Sera, has announced the intention of its subsidiary Lumi Leasing to offer 30% of its shares in an initial public offering and list its shares on the main Tadavul exchange.
Details of the IPO
The offering is expected to include the sale of 16.5 million shares of common stock.
Application and Subscription Period
The period for registration of applications of participating entities and the process of forming a portfolio of orders will begin on August 30 and end on September 5.
The individual segment subscription will be valid for one day only, Tuesday, September 12, 2023.
Approval and Registration
Notably, Tadavul approved the listing of Lumi shares on the main market, which was subject to the approval of the Capital Market Authority, and the issuance of the decision of the Board of the Capital Market Authority dated 07/09/1444H (which corresponds to 03/29/2023), which includes the approval of Lumi’s request for registration offer its shares by public subscription, which is 30% of the total number of Lumi shares.