Arab Finance: EFG Hermes, the investment bank affiliated with EFG Holding Group and the leader in the Middle East and North Africa markets, announced today that the promotion and underwriting sector has succeeded in completing advisory services for the initial public offering deal of the emerging company “Nice One Beauty”, a leading unicorn in the field of… E-commerce for cosmetics and personal care in the Kingdom of Saudi Arabia, and is the first e-commerce platform to have its shares listed on the main Saudi financial market (Tadawul), said the statement sent on January 8.
The IPO process witnessed Nice One Beauty offering 30% of its total issued capital by selling 34.65 million ordinary shares at a value of 35 Saudi riyals per share. The total value of the offering amounted to 323 million US dollars and the market value reached 4.0 billion Saudi riyals (1.0 billion). dollar).
The deal was very well received by investors, both locally, regionally and internationally, and the subscription coverage rate reached 139.4 times the total shares offered. The group's shares began trading today under the symbol “NICE ONE”.
In this context, Saud Al-Tasan, CEO of EFG Hermes in the Kingdom of Saudi Arabia, expressed his pride in the pivotal role that the company played in completing this prominent deal in the Saudi capital market, which consolidates its leading position in providing the best advisory services in the Kingdom of Saudi Arabia. . Al-Tasan added that this deal reflects the strong and growing interest of investors in seizing new opportunities in the e-commerce sector in the Kingdom, especially in emerging companies operating in this sector such as “Nice One Beauty.”
Al-Tasan also stressed the importance of this deal in enhancing the company’s competitive advantage, which is represented in providing advisory services for major deals in the field of e-commerce and supporting the growth process of companies throughout the region, supported by its firm commitment, expertise, deep knowledge, and close relationship with investors.
For his part, Amr Abdel Khabeer, Managing Director of the Promotion and Underwriting Sector at EFG Hermes, added that the success of completing the initial public offering deal for “Nice One Beauty” reflects the positive developments and promising elements that the capital market in Saudi Arabia abounds in, as well as the increased interest in Investors in successful startup companies in the Kingdom.
Abdul Khabeer pointed out that Nice One Beauty is in a unique position that qualifies it to benefit from the rapid digital transformation in the Kingdom, as it is one of the leading digital platforms in the region. In addition, Abdul Khabeer praised the combined efforts of the work team and the founders of Nice One Beauty, which resulted in enhancing the process of success and growth, expressing EFG Hermes’ pride in being a partner in this process thanks to its unique ability in the smooth completion of strategic deals.
Nice One Beauty was founded in 2017 by Omar and Abdul Rahman Al-Olayan. The platform offers a wide variety of more than 28,000 product sales units, including beauty products, hair and skin care, perfumes, and other high-quality personal care products from more than 1,200 international and local brands.
Currently, the company provides products belonging to international brands and others belonging to its exclusive production lines.
During 2024, the company recorded revenues of 186 million US dollars for the first 9 months of the year, which is an annual increase of 36%, while net profit amounted to 17.6 million US dollars, more than double the profits achieved during the same period last year, which reflects The remarkable growth of the company's business portfolio.
It is worth noting that EFG Hermes acted as the joint financial advisor, promoter of the issue and underwriter of the issue.
