Lumi Hire a Automotive has set the worth vary for the preliminary public providing of 30% of its shares in the primary market between 62 riyals and 66 riyals per share.
The book-building course of for the taking part entities started right now and can finish on September 5, and the ultimate providing worth is anticipated to be decided on September 7.
Lumi has appointed Banque Saudi Fransi Capital as monetary advisor and joint bookrunner with EFG Hermes to handle the providing.
Riyad Financial institution, Banque Saudi Fransi and Nationwide Financial institution of Saudi Arabia have additionally been designated as receiving banks.
It anticipated that the full quantity of the providing would vary between 1023 million riyals to 1089 million riyals, which implies that the market worth of the corporate upon itemizing will vary from 3410 million riyals to 3630 million riyals.