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Saudi Arabia's auto rental firm Lumi pops 30% in stock market debut

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Shares of Lumi soared as much as 30% on Monday at the Saudi Arabian auto rental firm debuted on the Riyadh stock exchange.

The Saudi auto rental firm debuted on the Riyadh stock exchange Monday in a 1.09 billion riyal initial public offering.

The company is the third-largest rental car operator in Saudi Arabia, according to its IPO prospectus.Shares of Lumi soared as much as 30% on Monday at the Saudi Arabian auto rental firm debuted on the Riyadh stock exchange in a 1.09 billion riyal initial public offering.

 

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