Saudi Exchange has announced the upcoming listing and trading of shares for Nice One Beauty Digital Marketing Co.on the Main Market. The listing will take place on Wednesday, January 8, 2025 under the symbol 4193 and ISIN Code SA1660HI1GH4.

• Fluctuation Limits:
  • During the first three trading days, daily price fluctuation limits will be set at +/- 30%, with static price fluctuation limits at +/- 10%.
  • From the fourth trading day onward, the daily price fluctuation limits will return to +/- 10%, and static price fluctuation limits will no longer apply.

Additionally, Edaa (The Securities Depository Center Company) has confirmed the deposit of securities for Nice One Beauty Digital Marketing Co. into the Center’s accounts for eligible securities holders on January 7, 2025.

IPO Summary

1. Offer Details:

• The Final Offer Price for the offering was set at SAR 35 per share, which implies a market capitalization exceeding SAR 4 billion (approximately USD 1 billion) at the time of listing. This makes Nice One the first unicorn tech company to debut on the Main Market of the Saudi Exchange, according to the company's statement.
• Following the listing, the company is expected to have a free float of 30% (approximately 34,650,000 shares) of its total shares, which amounts to 115,500,000 shares.

2. Subscription Results:

• Institutional Book-building: The institutional book-building period concluded successfully, with the final offer price set at SAR 35 per share. This period saw an oversubscription of 139.4 times the total offered shares.
• Retail Subscription:
  • Retail subscriptions occurred from December 24 to December 25, 2024.
  • 3,465,000 shares were allocated to individual investors, representing 10% of the total offered shares.
  • A total of 418,116 individual investors placed orders, amounting to SAR 908 million, reflecting a subscription coverage of 7.5 times for the individual investor tranche.
• Allocation:
  • A minimum of 8 shares was allocated to each individual investor, with the remaining shares distributed pro-rata based on demand. The average allocation factor was 0.5313%.
  • The final allocation for Participating Parties was reduced to 31,185,000 shares, representing 90% of the total offered shares.
  • The allocation for Cornerstone Investors remained fixed at 4,331,250 shares, with 26,853,750 sharesallocated to the remaining Participating Parties, excluding Cornerstone Investors.

Key Investment Highlights

1. Market Position and Brand Equity

• Established in 2017, Nice One is a leading e-commerce retailer in Saudi Arabia.
• Fulfilled 2.9 million orders and sold 18 million units in 2023.
• Built a strong brand reputation, supported by 2 million social media followers.

2. Strong Marketing Capabilities

• Expert in leveraging digital marketing and influencer partnerships.
• Achieved a 58% increase in new customer acquisition (Q1 2023–Q1 2024).
• Reduced customer acquisition costs by 36% during the same period.

3. Integrated Digital Platform

• Seamless user experience with advanced infrastructure and a database of 4+ million registered customers.
• Achieved 90%+ customer satisfaction and over 8 million app downloads.
• Maintained 99% platform uptime in 2023, ensuring operational efficiency.

4. Product Sourcing and Dynamic Sales Strategy

• Sources 82% of products locally with a catalog of 28,000+ SKUs, including exclusive and international brands.
• Uses advanced analytics for dynamic pricing and demand prediction, optimizing profitability.

5. Reliable Supply Chain Infrastructure

• End-to-end supply chain management, including same-day delivery in major cities.
• Employs warehouse automation and a proprietary transportation fleet for efficient logistics.

Current Warehouses

6. Own Brands and Strategic Brand Partnerships

• Own brands contributed 20% of product revenue in 2023, growing at a CAGR of 103.4%.
• Partnerships with 1,200+ international brands offer exclusive products and joint marketing campaigns.

7. Financial Performance

• Achieved a revenue CAGR of 32% (2021–2023), with SAR 782.4 million revenue and SAR 32.6 million net profit in FY 2023.
• Profitability driven by high-margin products, cost reductions, and growth in own brands.

8. Ambitious Management and Strategic Shareholders

• Led by founders with expertise in beauty, personal care, and digital technology.
• Supported by strategic shareholders driving innovation and long-term growth.

9. Timeline for the expected use of net proceeds from the offering

Substantial Shareholders of the Company Pre- and Post Offering

* Wajhat AlHamra for Investment Company, Darb AlNomu Investment Company and Tareek Al Nomu Investment Company are all fully owned by Namara Investments Company.
Source: The Company

For those who are interested to read more, here is the full prospectus.

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- Reporting by Zaid, Sahm News team