Saudi Arabia's company Nice One establishes initial public offering (IPO) price range, strives for over $1 billion market valuation

Saudi Arabia's company Nice One establishes initial public offering (IPO) price range, strives for over $1 billion market valuation

In a significant move, the leading beauty ecommerce platform in Saudi Arabia, Nice One, has announced a price range of SAR 32 to SAR 35 per share for its Initial Public Offering (IPO).

Founded in 2017, Nice One sells over 28,000 products across categories including cosmetics, body care, fragrances, and nutritional supplements. The company's full-year 2023 financials showed revenue of $208.6 million and a net income of $8.7 million.

For the first nine months of 2024, Nice One reported revenue of $186 million, up 36% year-on-year, with a net profit of $17.6 million. The platform offers both international brands and its own exclusive product lines.

Nice One will offer 34.65 million shares, representing 30% of its total share capital. Three major strategic investors, Masarrah Investment Company, Mohammed Abdulaziz Al Habib & Sons Holding Company, and Frontier Investment Management Partners, have secured cornerstone commitments and will subscribe to 4.33 million shares.

The potential raise could be up to $322 million, valuing the company over $1 billion. The offering consists of 29.15 million existing shares and 5.5 million new shares through a capital increase.

It is important to note that the fully paid-up share capital of Nice One Beauty Digital Marketing Company is SAR 115,500,000, represented by 115,500,000 ordinary shares with a nominal value of SAR 1 per share. This means the maximum potential amount Nice One could raise from its IPO in Saudi Arabia is SAR 115.5 million, assuming all shares were offered at or above nominal value and fully subscribed.

However, the exact IPO proceeds require details about the share offer price and allocation, which are not provided at this time.

This IPO marks an exciting step for Nice One as it continues to grow and expand its presence in the beauty and wellness market in Saudi Arabia and beyond.

[1] Source: Company data up to early 2025. More specific data on the IPO pricing per share or fraction of shares offered was not found in the search results.

1. As part of its strategic growth, Nice One is planning to raise funds through an Initial Public Offering (IPO), with the offering consisting of shares in the finance sector, aiming to attract investors who are interested in the beauty and business industry.
2. With the IPO proceeds, Nice One aims to strengthen its financial position, enabling further investment in expanding its product offerings, international presence, and deploying innovative digital marketing strategies in the beauty and wellness market.

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