25/09/2023 14:41:31

Saudi Exchange Celebrates the Listing of Lumi Rental Company on the Main Market

Riyadh, 25 September 2023: The Saudi Exchange today celebrated the listing of Lumi Rental Company, a Saudi Arabian based provider of vehicles and motorcycle rental services, as it lists on the Main Market of the Saudi Exchange. The listing ceremony was attended by Mr. Mohammed Al Rumaih, CEO of Saudi Exchange and Eng. Mohammed Alkhalil, Chairman of Lumi Rental Company.

Mohammed Al-Rumaih, CEO of Saudi Exchange, said, “Our IPO pipeline remains strong as we welcome Lumi Rental Company to the Saudi Exchange’s Main Market. Today’s listing is a reflection of the Kingdom’s growth in the transportation industry. The addition of Lumi Rental Company to the market offer investors a further opportunity to diversify their portfolio and participate in the development of this dynamic industry. We would like to congratulate the entire team of Lumi Renal Company on this occasion and look forward to their growth journey.”

Eng. Mohammed Alkhalil, Chairman of Lumi Rental Company, commented, “As a leading provider of transportation services in Saudi Arabia, listing on the Saudi Exchange is a significant milestone for Lumi Rental Company. Our goal is to improve convenience and drive customer loyalty through innovation and operational excellence in the land mobility sector. The successful listing on the market is a testament to the hard work and dedication of our team, and we look forward to the beginning of this new chapter in our journey as a listed company.”

Lumi Rental Company offered 16,500,000 shares, representing 30% of its share capital at the offering price of SAR 66 per share.