Saudi Fransi Capital announces Lumi’s final IPO price

Saudi Fransi Capital, the financial advisor, lead manager, institutional book-runner and underwriter on the initial public offering (IPO) of Lumi Rental Co. announced the successful completion of the book-building process for the institutional tranche. The final offer price was set at SAR 66 per share, with a coverage ratio of 9,446%.

The participating parties fully subscribed to the shares on offer. A total of 16.5 million ordinary shares, or 100% of the total shares offered as a first stage were allocated to these parties.

On the other hand, 1.65 million ordinary shares, or 10% of the total shares offered maximum, will be allocated to individual subscribers. 

Saudi Fransi Capital completed, with the receiving banks, Banque Saudi Fransi, Saudi National Bank (SNB), and Riyad Bank all necessary measures to receive subscriptions from individual investors for one day only (on Sept. 12).

All information and details related to the offering are available in the prospectus published on the website of the Capital Market Authority (www.cma.org.sa), the website of the company (https://lumirental.com/en) and the website of Saudi Fransi Capital Co. (www.sfc.com.sa).