Massive demand for Saudi online beauty platform Nice One's $322 million IPO sees staggering $45 billion in orders poured in.
Nice One Beauty Goes Public, Raising Over $336 Million
Nice One, a Saudi Arabian e-commerce platform specialising in beauty and personal care products, has successfully completed its initial public offering (IPO) and is now listed on the Saudi Stock Exchange (Tadawul) under the ticker symbol 4193. The company aims to raise $322 million through the IPO.
The offering included the sale of 29.15 million existing shares and the issuance of 5.5 million new shares through a capital increase, totalling 34.65 million shares, representing 30% of its share capital. As a result, the market capitalization of Nice One following the IPO is expected to exceed SAR 4 billion ($1.06 billion).
The retail subscription period for the IPO ran from December 24 to December 25, and 10% of the offered shares were allocated to individual investors. The IPO price was set at the top end of the previously announced range, at approximately SAR 24.50 per share.
The institutional book-building process for the IPO attracted orders exceeding SAR 169 billion ($45 billion), resulting in an oversubscription of 139.4 times.
Prior to the IPO, Nice One reported revenue of $186 million and a net profit of $17.6 million for the first nine months of 2024. The company, founded in 2017 and headquartered in Riyadh, operates an online platform selling cosmetics, personal care products, and fragrances. Omar Ali Al Olayan serves as the CEO.
The IPO proceeds in Saudi Arabia in 2025 were spread across various sectors, with Nice One's offering being part of this market activity. Following the IPO, shares traded around SAR 24.34, as of August 18, 2025.
This offering allowed selling shareholders to monetize part of their holdings while listing the company on the Saudi Exchange, reflecting ongoing IPO activity in Saudi Arabia despite cautious investor sentiment in 2025.
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