Riyadh: Nice One Beauty Digital Marketing Company concluded the individual investor offering period and the final allotment of the offered shares concerning its initial public offering (IPO) on the Saudi Exchange (Tadawul).

The company set the final price for its IPO at SAR 25 per share, resulting in an oversubscription of 139.40 times the total offered shares, according to a press release.

The offering saw 418,116 individual investors place orders totalling SAR 908 million, reflecting a subscription coverage of 7.50 times for this tranche.

The individual investors offering took place from 24 December to 25 December 2024.

A total of 3.46 million shares, representing 10% of the total shares, were allocated to the Individual Investors tranche.

The company allocated a minimum of eight shares to each individual investor, with the remaining shares allocated on a pro-rata basis, based on the size of demand, with an average allocation factor of 0.5313%.

Based on the results of the retail subscription process, the shares allocated to participating parties will be reduced to 31.18 million shares, representing 90% of the total offer shares.

Such clawback shall not apply to the cornerstone investors and the final allocation to the cornerstone investors shall be 4.33 million shares in all cases.

Accordingly, 26,853,750 shares of the Offer Shares will be allocated to the Participating Parties excluding the Offer Shares allocated to the Cornerstone Investors.

Following the listing, Nice One is expected to have a free float of 34.65 million shares (30%) of its total 115.50 million shares.

Last September, the Capital Market Authority (CMA) approved the company’s IPO to list 34.65 million shares, accounting for 30% of its share capital.

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