Seera Group Holding finalized its feasibility study related to the proposed initial public offering (IPO) of Lumi Rental Co., concluding that the offering will constitute a demerger and, therefore, is subject to the approval of the Seera shareholders. In a statement to Tadawul, the travel group said it will separately publish a shareholder invitation for an ordinary general meeting (OGM) to vote on the demerger, together with a shareholders' circular containing further information on the demerger process. On September 28, 2022, Seera's board of directors formed a committee to advise shareholders on the demerger, pursuant to Article 117 of the Rules on the Offer of Securities and Continuing Obligations.

The committee consists of Mohammed Al-Khalil, AlBassam, and Yazeed Almuhaize as independent members. On November 21, 2022, Seera's board approved the demerger.