| Element List | Explanation |
|---|---|
| Announcement Detail | Seera Group Holding Company (the “Group”) announces that it is currently considering the initial public offering (IPO) of its fully owned subsidiary, Lumi Rental Company (the “Company”), on the Saudi Exchange (Tadawul). The Company’s headquarters are located in the city of Riyadh, Kingdom of Saudi Arabia, and it is engaged in providing car rental services. |
The Group and the Company are currently conducting detailed feasibility studies to cover all organizational, financial, technical and legal aspects to determine the prospects of the initial public offering of the Company, which shall be followed by further financial and legal due diligence reviews for the purpose of preparation of the required documentation and disclosures in accordance with the applicable rules and regulations. Noting that the initial public offering of the Company is subject to satisfying the necessary regulatory procedures and requirements, including without limitation obtaining approvals from the Capital Market Authority on the registration and offer of the Company’s shares and the prospectus relating to the potential offering, approval from the Saudi Exchange (Tadawul) on listing the Company’s shares, in addition to obtaining all required official approvals in connection with the offering.
Any material developments will be announced in due course.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.