Nice One surges 30% on TASI debut

Shares of Nice One Beauty Digital Marketing Co. jumped 30% to SAR 45.5 on their debut on the Main Market (TASI), an increase of SAR 10.5 above the listing price of SAR 35.

Nearly 550,000 shares worth SAR 25 million changed hands.

Nice One began trading today, Jan. 8, under the symbol 4193 and ISIN Code SA1660HI1GH4.

The stock will trade in the first three days with daily and static price fluctuation limits of ±30% and ±10%, respectively. From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10%, while the static price fluctuation limits will no longer apply.

Nice One offered 34.65 million shares, or 30% of its capital, at SAR 35 per share. The company allocated 90% of the shares on offer to institutional investors, while the remaining 10% was set aside for retail investors.

The retail IPO was 7.9x covered, with the order book reaching nearly SAR 908 million. Meanwhile, institutional investors’ IPO was 139.4x oversubscribed.

A minimum of eight shares were allocated to each investor, while the remaining shares were allocated on a pro-rata basis. The allocation was based on the size of each investor’s requests, compared to the total remaining subscribed shares, with an average allocation factor of 0.5313%.