When does Lomi subscription start? What is the subscription information for Lumi? Many reputed companies in Saudi Arabia contribute to the Saudi business market, including Lumi Company, which operates in the car rental industry. Moz News website will show you when Lumi company’s IPO will start.
When does Lumi subscription start? what day
Lumi company is one of the most prominent and largest car rental companies in Saudi Arabia, headquartered in Riyadh, which is considered to be one of the most profitable and significant contributors to the Saudi IPO market.
The company has announced that the subscription for its shares will start the next day Tuesday, September 12, 2023 AD Following the approval of the Saudi Stock Exchange, Tadawul, Lumi’s listing on the main market, which has been suspended pending the approval of the Capital Markets Authority in the Kingdom, was granted on March 29, 2023 this year. AD
How many Lumi shares are available for subscription?
Recently, Lumi Company announced that it will issue 16.5 million ordinary shares on the Saudi Arabia Stock Exchange on September 12, which is equivalent to 30% of Lumi Company’s total shares.
In addition, the company set a price range for the shares announced to trade between 62 and 66 Saudi riyals per share, bringing the company’s market value to 3.6 billion Saudi riyals.
Subscription Information
In the context of knowing on which day the Lumi IPO starts, we will present all the details related to the subscription in the Lumi company, which will be evident in the following:
| Deduction rate | 30% |
| Number of shares to be issued | 16.5 million shares |
| Subscription period and order book creation process for subscribing companies | From 30 August to 5 September |
| Eligible to subscribe | Participating Sections and Individual Subscribers |
| Minimum amount for individuals | 10 shares |
| Minimum Participating Units (Companies) | 50 thousand shares |
| Maximum limit for individuals | 250 thousand shares |
| Maximum Limit for Participating Categories (Institutions) | 2.75 million shares |
| Announcing the final allotment of shares to be issued | September 21, 2023 |
| Individual subscription period | One day September 12, 2023 |
| Refund of oversubscription amount | September 21, 2023 |
Lumi Car Rental will make a significant contribution to the Saudi business market in the near future after receiving approval to do business.
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