Nice One Beauty, a leading beauty care e-commerce platform in Saudi Arabia, is set to launch an initial public offering (IPO) in Riyadh.
It aims to raise up to $322m (SR1.21bn) through the offering.
The IPO is to be priced in the range of SR32 to SR35 per share.
Nice One Beauty IPO in Saudi Arabia
Announcing the price range for its IPO, Nice One Beauty said a total of 34.6 million shares, accounting for 30 percent of the company’s share capital, is being offered.
The institutional book-building period for participating parties began on Sunday, December 1, and will close at 2pm (KSA time) on December 8.
The announcement follows the company getting the go-ahead from the Saudi Capital Market Authority (CMA) in September this year for the IPO.
According to Nice One, the company had obtained the necessary approvals from the CMA and Saudi Exchange to proceed with the offering and listing process. These shares will be offered for subscription to individual subscribers and participating parties.
A maximum of 34,650,000 ordinary shares (representing 100 percent of the offer shares), will be allocated to the participating parties initially, with the final allocation being made after the end of the retail subscription period.
In the event of sufficient demand from retail investors, they will be allocated a maximum of 3,465,000 ordinary shares representing 10 percent of the offer shares.
The Offer Shares will be listed and traded on the Saudi Exchange’s Main Market following the completion of the offering and listing formalities with both the CMA and the Saudi Exchange.
A leading beauty and care e-commerce platform in the kingdom, Nice One Beauty’s product range includes cosmetics, body care items, lenses, perfumes, skincare and haircare products, as well as nutritional supplements.
These offerings feature more than 1,200 leading international and local brands, along with Nice One’s own exclusive brands.
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