Baker McKenzie with Nice One Beauty on its IPO
Baker McKenzie advised Nice One Beauty Digital Marketing Company (Nice One), a Saudi makeup e-commerce platform, on its successful Initial Public Offering (IPO) on the Tadawul Main Market.
The Baker McKenzie team provided comprehensive legal counsel throughout the transaction, including listing Nice One’s shares on Tadawul and the public offering of 34,650,000 ordinary shares, representing 30% of the Company’s share capital. The shares were offered for SAR 35 per share implying a market capitalization exceeding SAR 4 billion at listing. The offering raised SAR 1,212.75 million. Nice One was successfully listed on 8 January 2025 after receiving approval from the Capital Market Authority on 25 September 2024.
During the institutional book building process, 100% of the Offer Shares were allocated to participating institutional investors, the institutional tranche being covered 139.4 times. The offering was also met with strong demand from the retail investors, resulting in the retail tranche being covered 7.9 times.
The team
The Baker McKenzie Capital Markets team advising on the IPO included counsel Nadine Nassar (pictured), associates Sara AlNasser and Hayat Alabdulwahed, junior associate Tina-Maria Kassouf, and trainee associate Alma Al-Ghamdi.
