Saudi Arabia auto rental firm Lumi jumps 30% in Riyadh IPO

Saudi Arabia auto rental firm Lumi jumps 30% in Riyadh IPO

Riyadh, Saudi Arabia. Photo by Hala AlGhanim on Unsplash

Shares in Saudi Arabia’s Lumi jumped as much as 30% above their listing price on Monday after the auto rental company raised $290 million in an initial public offering.