Nice One Beauty Digital Marketing Company plans to offer 30% of its shares on the main Saudi Stock Exchange (TASI), equivalent to approximately 34.6 million shares.
Details
The offering will comprise 25% of its current and 5% of new shares, representing 30% of the total issued capital of “Nice One” after a planned capital increase.
The subscription period for institutions and the order book building process will last for six days, starting from December 1 to 8.
The final offering price will be determined on December 15, followed by the retail investor subscription on December 24 and 25.
So what
The proceeds from the initial public offering (IPO) will be distributed to the selling shareholders on a pro-rata basis, based on their ownership percentage in the shares for sale.
The remaining proceeds will be allocated to “Nice One,” which plans to use them for working capital financing, brand development, and marketing of its products and sales channels.
The company will also utilize the subscription revenue to enhance its logistics and technical capabilities, along with general purposes.
Recently, the Saudi Stock Exchange (Tadawul) saw the listing of “Al Majed for Oud,” which had received significant demand from investors.
Some context
Nice One was founded in 2017 and has become one of the largest local e-commerce platforms, specializing in selling cosmetics and personal care products online.
It offers a wide range of “high-quality” skincare, haircare, body care products, perfumes, and other personal care items, catering to millions of customers in Saudi Arabia.
The company boasts more than a 28,000 product range.
The “Nice One” app is the company’s primary sales channel, contributing 95% of its total sales in the first quarter of this year.
Since its launch in 2017, alongside the e-commerce platform, the app has achieved notable success, with over 8 million downloads, the company notes.
