Nice One Beauty Digital Marketing secured binding commitments from cornerstone investors for its upcoming Tadawul IPO, it said in a supplementary prospectus (pdf). Masarrah Investment Company, Mohammed Abdulaziz Al Habib & Sons Holding Company and Frontier Investment Management Partners have committed to a cornerstone investment of some 4.3 mn company shares at the offer price.

The breakdown: Masarrah Investment and Mohammed Abdulaziz Al Habib & Sons have each subscribed to c. 1.7 mn shares representing 1.5% of the company shares after the offering. Meanwhile, Frontier Investment Management Partners have committed to 866,250 shares comprising 0.75% of company shares.

REFRESHER- Nice One announced its intention to float last month, with plans to sell some 30% of company shares on Tadawul. The company set a price range for the IPO at SAR 32-35 per share.

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