Nice One sets IPO price on TASI at SAR 35/share

Logo of  Nice One Beauty Digital Marketing Co.

SNB Capital, in its capacity as the lead manager, financial advisor, bookrunner and underwriter, and EFG Hermes Saudi Arabia as the joint financial advisor, bookrunner and underwriter, announced the successful completion of the book-building process for the initial public offering (IPO) of Nice One Beauty Digital Marketing Co. on the Main Market (TASI).

The final IPO price was set at SAR 35 per share.

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The order book was 139.4x oversubscribed.

Nice One 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, Argaam reported.

The offering includes the sale of 25.24% of existing shares and the issuance of new shares, representing 4.76%, totaling 30% of the capital.

The retail offering will start on Dec. 24 and run until Dec. 25. A total of 3.46 million shares, or 10% of the offered shares, was allocated for the retail investors.

Nice One was established in 2017 and launched its app and website after two years of market research and infrastructure.

Its main activity is e-commerce for personal care products, perfumes and cosmetics.