Logo of Nice One Beauty Digital Marketing Co.
Nice One Beauty Digital Marketing Co. successfully completed of its retail subscription for listing on the Main Market (TASI).
The announcement was made by SNB Capital Co., lead manager, financial advisor, book-runner and underwriter on the initial public offering. Along with EFG Hermes Saudi Arabia as the joint financial advisor, book-runner, and underwriter.
The retail IPO, which included 3.47 million shares, was 7.9x covered.
Individual investors will receive a minimum of eight shares each, while the remaining shares will be allocated on a pro-rata basis based on the size of each individual investor’s request compared to the total remaining subscribed shares with an average allocation factor of 0.5313%.
The company said that the retail subscription, which ran from Dec. 24-25, saw subscription of 418,120 investors at the final offer price of SAR 35 per share, with total retail requests of nearly SAR 908 million, as illustrated in the following table:
|
IPO Details |
|
|
Total Shares Offered |
34.65 mln |
|
Shares Offered to Retail Investors |
3.47 mln |
|
Issue Price |
SAR 35 |
|
Coverage Ratio |
7.9 x |
|
Allocation |
Minimum of 8 shares per investor |
|
Allocation of Remaining Shares |
On pro rata basis 0.5313% |
According to data available to Argaam, the company offered 34.65 million shares, or 30% of its capital, 10% of which were allocated to retail investors and 90% to institutions.
The retail offering ran through Dec. 24-25.
The participating categories IPO was 139.4x covered.
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