The investment bank EFG Hermes has completed its advisory role on the IPO of Nice One, the Saudi Arabia beauty and personal care e-commerce platform. This marks the first e-commerce platform to be listed on the main Saudi Exchange (Tadawul).
Nice One Beauty offered 30% of its total issued share capital, equivalent to 34.65 million ordinary shares, priced at $9.3 each. The offering raised $323m, with the company achieving a market capitalisation of $1bn.
The IPO captured the attention of local, regional, and international investors, with the total book covered approximately 139.4 times. The company began trading under the ticker ‘NICE ONE’ and reflects growing investor confidence in the Middle East’s digital economy.
Gulf Economist Staff Writer