EFG Hermes, a leading investment bank in the Middle East and North Africa, announced the successful completion of its advisory role in the initial public offering (IPO) of Nice One Beauty, the first unicorn in the e-commerce sector to list on the main Saudi Exchange (Tadawul). This milestone underscores the growing importance of tech-enabled businesses in the Kingdom’s economy.
Key IPO Highlights
Offering size: 30% of issued share capital.
Shares offered: 34.65 million.
Offer price: SAR 35 per share.
Total proceeds: USD 323 million.
Market capitalization: USD 1 billion (SAR 4 billion).
Subscription coverage: 139.4 times.
Nice One shares began trading today under the ticker symbol “NICE ONE”.
Statements from EFG Hermes Leadership
Saud Altassan, CEO of EFG Hermes KSA
Altassan expressed pride in EFG Hermes’ role, highlighting the IPO’s significance in Saudi Arabia’s capital markets. He emphasized the growing demand for investment in tech-driven businesses and their potential to reshape key industries such as e-commerce.
Read also:
Dell Expands NativeEdge Innovations
LG Unveils Unified Vehicle Controller Platform at CES 2025
Amr Abdel-Khabir, Managing Director, Investment Banking
Abdel-Khabir highlighted the dynamism of the Saudi capital market and investor appetite for high-growth companies like Nice One. He underscored the platform’s readiness to leverage the Kingdom’s rapid digital transformation, noting that this transaction demonstrates EFG Hermes’ expertise in delivering seamless and strategic advisory for transformative deals.
About Nice One Beauty
Founded in 2017 by Omar and Abdulrahman AlOlayan, Nice One Beauty offers a diverse portfolio of over 28,000 products, including cosmetics, perfumes, skincare, and more from 1,200+ local and international brands. The company also features exclusive product lines.
Financial Performance
2024 Revenue (9 months): USD 186 million (+36% YoY).
Net profit: USD 17.6 million (more than double YoY).
This strong growth trajectory positions Nice One as a key player in the region’s digital economy.
A Trusted Partner in IPOs
EFG Hermes acted as a Joint Financial Advisor, Bookrunner, and Underwriter for the transaction. This success reinforces EFG Hermes’ leadership in advising high-profile deals in emerging markets, particularly in the tech sector.
For more real-time economic news, follow us on our Facebook page here:
The Economic Digest website is an online platform specifically designed to provide users with comprehensive summaries of the most important economic events occurring in global and regional markets.
The aim of the Economic Digest is to offer accurate and concise information about economic developments, making it easier for readers to understand the events.
