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Nice One Beauty Digital Marketing Company is planning to offer a 30% stake (34.7 mn shares) in a Tadawul IPO, after getting approval from the Capital Market Authority yesterday, according to a statement. No further details were provided, but the statement said Nice One’s prospectus would be published “within sufficient time prior to the start of the subscription period.”
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REMEMBER- Bloomberg reported in January that the company was auditioning bankers for a planned IPO. The business information service reported at the time that talks are still ongoing with the size and timing of the share sales undetermined.
About the company: Nice One Cosmetics 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.
