Saudi Arabia’s online cosmetics retailer Nice One is planning to list on the local stock exchange, Bloomberg reported, citing informed sources.
 
The company has asked banks to present proposals for potential involvement in the IPO, the sources said.
 
While deliberations are ongoing, the report added that details on the size and timing of the IPO are still undecided.
 
Established in 2016, Nice One is part of the expanding landscape of tech startups in the Middle East looking at potential IPOs.
 
Bloomberg reported in November that Floward, an online company that delivers flowers and gifts, was working with banks on a potential listing this year.

(Editing by Seban Scaria seban.scaria@lseg.com)