Nice One Beauty, a prominent Saudi Arabian online cosmetics retailer, is set to raise up to 1.21 billion riyals (US$322 million) through an initial public offering (IPO) on the Riyadh stock exchange.
Founded in 2016, Nice One has rapidly emerged as a leader in Saudi Arabia’s e-commerce beauty sector, offering a wide selection of products from both global and local brands. The IPO is part of a broader trend of public listings in the kingdom, which has seen over US$3 billion raised in 2024 alone. The company is being advised by financial firms EFG Hermes and SNB Capital as it taps into growing investor interest in the region’s expanding digital and beauty markets.
The IPO comes at a time of heightened activity in the Middle East beauty industry, with Dubai-based Huda Beauty reportedly considering the sale of its fast-growing perfume division, further fueling dealmaking in the region. Across all sectors, Middle Eastern companies have raised US$10 billion through share sales in 2024, highlighting the strength of the region’s capital markets.
Nice One’s IPO underscores the increasing demand for digital-first beauty brands as Saudi Arabia continues to position itself as a hub for innovation and investment.
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