Saudi Arabian car rental business Lumi pops 30% in stock industry debut

Cityscape of Saudi money Riyadh.

Harri Jarvelainen Photography | Minute | Getty Visuals

Shares of Lumi soared as significantly as 30% on Monday at the Saudi Arabian auto rental business debuted on the Riyadh inventory trade in a 1.09 billion riyal ($290 million) original general public featuring.

A unit of Saudi journey business Seera, Lumi mentioned 30% of its shares on the Saudi Tadawul exchange at an first value of 66 riyals, at the prime of their variety. Selling prices soon right after rose to 85.8 riyals for each share.

In accordance to its original community providing prospectus, Lumi is the third-most significant motor vehicle rental service provider in the Saudi kingdom, capturing an approximated neighborhood industry share of 7% in 2021.

This is a breaking information story, remember to verify back later for a lot more.

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