00:00 Lumi has decided to rent the cars of the group that is holding the new bid and announce the price of the bid for the company in the Saudi market, in the main market in Saudi Arabia.
00:16 We will look at the details of the company, its revenues, profits and other figures. At the beginning, the Saudi market was agreed to bid on 29 March. We have a bid of 30% of the company's shares, which is equivalent to 16.5 million shares.
00:37 The decision to announce the final bid price for the company on 7 September is to be on 30 August.
00:50 We will talk about the company's operating and financial performance. Lumi is a short-term rental company, which has a long term sales and is a car dealer. The company has 7% of the Saudi market share.
01:07 It has 35 branches in different parts of the Kingdom, in airports and different cities. We also see that the company's fleet has expanded since its establishment in 2006 to reach 24,700 vehicles by the end of April.
01:29 Lumi has developed at the level of half of this year, at the level of revenues. There is a growth in revenues during the first half of this year.
01:45 We also see that in 2006, the company was established, and in 2016, the company's main transformation journey, and in 2018, the increase in size and length of the rental contract.
02:09 We also saw that Lumi has expanded the sector of car sales by opening a second venue for car sales in Jeddah.
02:20 This is in line with the developments of Lumi, which will soon be listed in the Saudi market. The final bid price for the company will be announced on 7 September.
02:33 been.
