{"id":91879,"date":"2024-11-25T00:00:00","date_gmt":"2024-11-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/25\/nice-one-beauty-issues-prospectus-for-tadawul-ipo\/"},"modified":"2024-11-25T00:00:00","modified_gmt":"2024-11-25T00:00:00","slug":"nice-one-beauty-issues-prospectus-for-tadawul-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/25\/nice-one-beauty-issues-prospectus-for-tadawul-ipo\/","title":{"rendered":"Nice One Beauty issues prospectus for Tadawul IPO"},"content":{"rendered":"

Nice <\/strong>One Beauty Digital Marketing Company is taking a <\/strong>31.5%<\/strong> stake <\/strong>to the<\/strong> Tadawul main market<\/strong>, it said in a prospectus (pdf)<\/a>. The 34.65 mn ordinary shares on offer consist of 5.5 mn newly issued shares and 29.15 mn existing shares. The firm lined up CMA approval for the offering in September<\/a>. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Use of proceeds: <\/strong>Selling shareholders will assume all of the offering\u2019s expenses which are estimated at SAR 53.4 mn, while net proceeds attributable to selling shareholders will be distributed on a pro rata basis. The company plans to supplement net proceeds attributable with additional financing from loans and cashflows, with 35-45% of total funds allocated to shoring up working capital, branding and sales, 15-25% to develop logistics and technical capacities, and 35-45% to finance potential mergers and acquisitions. <\/p>\n

Timeline: <\/strong>Institutional investors will be able to subscribe to 100% of the offering, booking a maximum of 5.75 mn shares and a minimum of 100k shares apiece. Meanwhile, retail investors will be allocated up to 10% of the offering subject to demand and can book between 250k shares and 10 shares apiece. Subscriptions for institutional investors will run between 1 December and 8 December, while subscriptions for retail investors will run for a two-day period beginning on 24 December. Final allocations of shares are slated for no later than 31 December and the first day of trading is set to be announced once all regulatory requirements have been met.<\/p>\n

Post-IPO structure + lockup: <\/strong>The firm\u2019s five major shareholders will see their combined stake diluted from 93.77% down to 65.64% post-listing. They will not be able to sell down their positions for a six-month period beginning with the first day of trading.<\/p>\n

Earnings snapshot:<\/strong> The company\u2019s net income for 2021 came in at SAR 13.5 mn, down 23.8% y-o-y, according to audited financials published in the prospectus. Meanwhile, revenues were up 35.3% during the same period at SAR 449.2 mn. <\/p>\n

About the company: <\/strong>Nice One Cosmetics<\/a> is a local online retailer specializing in beauty and personal care items, including makeup, skincare, fragrances, and home scents. The company was launched in 2016. The brand gained significant traction as one of the largest beauty e-commerce platforms in Saudi as it offers a wide range of local and global brands.<\/p>\n

ADVISORS- <\/strong>SNB Capital will be quarterbacking the transaction as lead manager, while also serving as financial advisor, bookrunner and underwriter alongside our friends at EFG Hermes. Baker McKenzie will offer legal advice to the issuer, while PwC will serve as financial due diligence advisor. Receiving agents include Alistithmar Capital, Alinma Investment, SNB Capital, AlJazira Capital, Riyad Capital, ANB Capital, Albilad Capital, Al Rajhi Capital, Derayah Financial, BSF Capital, SAB Invest, Yaqeen Capital, Alkhabeer Capital, and Sahm Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

Proceeds from the offering will be distributed across selling shareholders and the firm<\/p>\n","protected":false},"author":1,"featured_media":91880,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2542],"tags":[2419,10,29,2452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-capital-markets","tag-enterpriseam-ksa","tag-ipo-watch","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"87946c64-9252-4811-a211-36c6c6e792ca","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1196.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Nice One Beauty issues prospectus for Tadawul IPO","related_issue":[91871],"teaser":"Proceeds from the offering will be distributed across selling shareholders and the firm","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.9d36a9e7-20f5-497e-a90e-04fdf89b0229.mp3"},"yoast_head":"\nNice One Beauty issues prospectus for Tadawul IPO - 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