Nice One issues supplementary prospectus for TASI offering

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Nice One Beauty Digital Marketing Co. issued a supplementary prospectus for floating its shares on the Main Market (TASI).

The company said it has become aware of additional significant matters that it considers need disclosing, as stated in the supplementary prospectus. A binding undertaking was submitted by Masarrah Investment Co., Mohammed Abdulaziz Al Habib & Sons Holding Co., and Frontier Investment Management Partners Ltd. – all on Nov. 26, 2024, to Nice One and the selling shareholders, pursuant to which the three companies committed to subscribe, as cornerstone investors, to 1.73 million shares, 1.73 million shares and 866,250 shares, respectively, of the offer shares (representing approximately 1.50%, 1.50% and 0.75%, respectively, of the company’s capital after the offering).

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The company agreed to allocate shares to Masarrah Investment, Mohammed Abdulaziz Al Habib & Sons Holding and Frontier Investment Management Partners as the cornerstone investors.

Masarrah Investment is a limited liability company (LLC), established in 2020 and headquartered in Riyadh. It manages investments in subsidiaries and associate companies, and investments across locally and international assets classes.

Mohammed Abdulaziz Al Habib & Sons Holding is a closed joint stock company, established in 2008 and headquartered in Riyadh. The company manages a number of investments across various strategic sectors and asset classes.

Frontier Investment Management Partners was set up in 2008 and is headquartered in Dubai International Financial Centre. The company manages several investments across the Middle East and Emerging Markets.

Masarrah Investment, Mohammed Abdulaziz Al Habib & Sons Holding and Frontier Investment Management Partners are major strategic investors in the Saudi markets.

Nice One believes their contribution as cornerstone investors will provide an essential drive for achieving growth and long-term strategic goals.

The company plans to float 34.65 million shares, representing 30% of post-IPO capital (31.5% of pre-IPO capital), on TASI, at a nominal value of SAR 1 apiece, data available with Argaam showed.

The retail offering will start on Dec. 24 and run until Dec. 25. A total of 3.465 million shares, or 10% of the offered shares, were allocated for the retail investors.