Nice One lists on Tadawul as 1st unicorn tech firm to debut on Main Market - Mubasher Info
NICE ONE
4193 7.69% 49.00 3.50
Riyadh – Mubasher: Care e-commerce platform Nice One Beauty Digital Marketing Company announced the listing of its shares on the Main Market of the Saudi Exchange (Tadawul) as of 8 January 2025 under the ticker symbol 4193.
The listing followed the successful completion of its initial public offering (IPO), making it the first unicorn tech company to debut on the Main Market, according to a press release.
The IPO consisted of 34.65 million ordinary shares, with 90% of the offer shares allocated to institutional investors.
CEO and Co-Founder of Nice One, Omar Al Olayan, said: "Today marks a historic milestone for Nice One as we officially list on the Saudi Exchange's Main Market.”
The orders recorded during the institutional book-building exceeded SAR 169 billion, equivalent to approximately more than $45 billion, representing a coverage of 139.40 times.
Al Olayan added: “Becoming the first unicorn tech company to debut in this space is a testament to our team's dedication, our customers' trust, and the confidence of our investors. This is not just an achievement for Nice One but also for Saudi Arabia's vibrant tech and e-commerce ecosystem.”
The number of shares that were allocated to the individual investors’ tranche was 3.46 million offer shares, representing 10% of the total IPO shares.
The offering saw 418,116 individual investors place orders totalling SAR 908 million, reflecting a subscription coverage of 7.5 times for this tranche.
The final offer price was set at SAR 35 per share, at the top end of the price range, with the company successfully raising gross process of approximately SAR 1.21 billion with an implied market exceeding SAR 4 billion at listing.
The CEO concluded: “As we embark on this new chapter, we are committed to driving innovation, delivering exceptional customer experiences, and creating long-term value for our shareholders."
Meanwhile, Abdularahman Al Olayan, CMO and Co-Founder of Nice One, said: "We are excited to continue leading the beauty e-commerce sector, expanding our offerings, and shaping the future of retail in the Kingdom and beyond."
Source: Mubasher Source: {{details.article.source}}