Saudi company ‘Nice One Beauty’ to raise up to USD319M via IPO on Tadawul stock exchange

(MENAFN) Nice One Beauty, an e-commerce company specializing in cosmetics and personal care, plans to raise up to 1.2 billion riyals (USD319 million) through an initial public offering (IPO) on Saudi Arabia's Tadawul stock exchange. The company has set a price range of 32 to 35 riyals per share, according to a disclosure on the Tadawul website. Al Ahli financial Company, acting as the subscription manager and financial advisor, confirmed that the IPO involves offering 34.65 million shares, which will constitute 30 percent of the company’s capital following the issuance of new shares to increase its capital.

The IPO structure mandates a minimum subscription of 100,000 shares for institutional investors, while the maximum allowable subscription is 5.74 million shares. The final share price will be determined upon completion of the book-building process, after which individual investors will have the opportunity to subscribe. The order book building for institutional investors begins on December 1 and is set to close by 2:00 PM on December 8, according to local Saudi time.

In September, the Saudi Capital Market Authority approved Nice One Beauty’s request to register its capital and offer 30 percent of the company to the public. This marks a significant milestone for the company, which was founded in 2017 and has rapidly grown to become a leading online retailer of beauty and personal care products in Saudi Arabia.

The IPO comes as the Saudi economy continues to diversify under Vision 2030, encouraging private companies to tap into public markets. Nice One Beauty’s growth trajectory and its strategic move to list on Tadawul are expected to attract strong interest from both regional and global investors seeking exposure to the Kingdom’s growing e-commerce and beauty sectors.

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