Seera Holding submits request to CMA to offer 30% of shares of subsidiary, Lumi Rental

Seera Group Holding announced on Thursday that it submitted an application for the registration and offering of sixteen million, five hundred thousand (16,500,000) ordinary shares representing 30% of the share capital of Lumi Rental Company to the Capital Market Authority (“CMA”) along with the submission of an application for the listing of its shares on the Saudi Primary Market.

The expected date of the CMA’s approval of the application for the registration and offering of Lumi’s shares to the public and the Saudi Exchange’s approval of the application to list Lumi’s shares on the Saudi Primary Market is before the end of 2023.

This comes with reference to the announcement made by Seera Group Holding (“Seera”) on 27/11/2022 regarding the conclusion of its feasibility study and its conclusion that the proposed initial public offering of its subsidiary Lumi Rental Company (“Lumi”) will constitute a demerger (the “Demerger”) requiring the approval of the shareholders of Seera, and with reference to the announcement made by Seera on 21/12/2022 on the results of the Extraordinary General Assembly Meeting, in which the Demerger was approved.