Saudi Arabia’s Nice One has completed the book-building process for its initial public offering (IPO) on the Main Market (TASI), revealing its final offer price.
The final IPO price has been set at SAR 35 per share.
The order book was significantly oversubscribed, reaching 139.4 times, revealed SNB Capital, acting as the lead manager, financial advisor, bookrunner and underwriter, along with EFG Hermes Saudi Arabia as the joint financial advisor, bookrunner and underwriter,
Nice One Beauty plans to float 34.65 million shares, which will account for 30% of the company’s post-IPO capital (31.5% of its pre-IPO capital), each share having a nominal value of SAR 1, as reported by Argaam.
This offering includes the sale of 25.24% of existing shares and the issuance of new shares, representing 4.76% of the capital.
Masarrah Investment Company, Mohammed Abdulaziz Al Habib & Sons and Frontier Investment Management Partners have been named cornerstone investors, with reported commitments of up to 12% of the $323 million IPO.
The retail offering is scheduled to begin on December 24 and conclude on December 25, with 3.46 million shares, or 10% of the offered shares, allocated for retail investors.
