Saudi's promising venture, Nice One, announces initial public offering (IPO) price range, aiming for a valuation surpassing $1 billion
In a significant move for the Saudi Arabian ecommerce industry, Nice One, the leading beauty platform in the kingdom, has secured commitments from three major strategic investors for its upcoming Initial Public Offering (IPO). The investors include Masarrah Investment Company, Mohammed Abdulaziz Al Habib & Sons Holding Company, and Frontier Investment Management Partners.
Founded in 2017 by Omar and Abdulrahman AlOlayan, Nice One offers over 28,000 products across various categories such as cosmetics, body care, fragrances, and nutritional supplements. The platform also houses both international brands and its own exclusive product lines.
For the first nine months of 2024, Nice One reported a revenue of $186 million, marking a 36% year-on-year increase, with a net profit of $17.6 million. The company's full-year 2023 financials showed an even more impressive revenue of $208.6 million, yielding a net income of $8.7 million.
Nice One is planning to list on the Tadawul, Saudi Arabia's stock exchange, with a price range of SAR 32 to SAR 35 per share. The offering consists of 29.15 million existing shares and 5.5 million new shares through a capital increase, potentially raising up to $322 million. These investors have committed to subscribing to 4.33 million shares, representing approximately 3.75% of the company's post-offering share capital.
However, as of the latest update in July 2025, no public information on Nice One's post-IPO valuation is available. The company's fully paid-up share capital is SAR 115.5 million divided into 115.5 million shares with a nominal value of SAR 1 each.
It's worth noting that while no specific valuation figures for Nice One have been disclosed, another Saudi company, Dar Al Majed Real Estate, was recently valued around SAR 4.2 billion following its IPO at SAR 13.5 to 14 per share.
As we await further details, this development underscores the growing potential of the Saudi ecommerce sector and the increasing interest from strategic investors in the region. Stay tuned for more updates on this exciting story.
With the commitment from three major strategic investors, Nice One's Initial Public Offering (IPO) proves to be an attractive opportunity for investors interested in the Saudi Arabian ecommerce business. As the leading beauty platform in the kingdom, Nice One's substantial revenue growth and planned listing on the Tadawul indicate a promising return on investing in its shares.
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