Beauty retailer Nice One’s shares jumped 30% on its debut trading session yesterday on Tadawul’s main market, closing at SAR 45.5 apiece. The company’s shares are allowed to fluctuate within a ±30% band on the first three days of trading, after which price fluctuations will be capped at ±10% as circuit breakers take effect.

REFRESHER- The beauty retailer took a 31.5% stake public, pricing its IPO at the top of the range after its institutional tranche was 139.4x oversubscribed. The final pricing of SAR 35 per share gave the company a market cap of over SAR 4 bn at listing, after raising around SAR 1.2 bn in proceeds. This is Saudi Arabia’s second major IPO this year, following Almoosa Health’s debut earlier this week.

ADVISORS- Our friends at EFG Hermes acted as financial advisor, bookrunner, and underwriter on the transaction, alongside SNB Capital, which quarterbacked the transaction as lead manager. Baker McKenzie provided counsel to the issuer, while PwC served as financial due diligence advisor.

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