Data News > Nice One Beauty Digital Marketing Company sets final price for IPO at SAR 25 per share, oversubscribed by 139.40 times,...
Nice One Beauty Digital Marketing Company sets final price for IPO at SAR 25 per share, oversubscribed by 139.40 times,...
By KlickAnalytics Data Insights | December 31, 2024 11:05AM ET
Nice One Beauty Digital Marketing Company sets final price for IPO at SAR 25 per share, oversubscribed by 139.40 times, individual investor offering concludes.
Nice One Beauty Digital Marketing Company successfully concluded the individual investor offering period and finalized the allotment of the offered shares for its initial public offering (IPO) on the Saudi Exchange (Tadawul). The company set the final price for its IPO at SAR 25 per share, which led to an oversubscription of 139.40 times the total offered shares, as stated in a press release.
During the individual investor offering, which took place from 24 December to 25 December 2024, the offering saw 418,116 individual investors place orders totaling SAR 908 million. This reflected an impressive subscription coverage of 7.50 times for this tranche. A total of 3.46 million shares, representing 10% of the total shares, were allocated to the Individual Investors tranche.
In the retail subscription process, participating parties were allocated 31.18 million shares, representing 90% of the total offer shares. However, this clawback did not apply to cornerstone investors, with a final allocation of 4.33 million shares in all cases. Following the IPO listing, Nice One is expected to have a free float of 34.65 million shares, which is 30% of its total 115.50 million shares.
This successful IPO comes after the Capital Market Authority (CMA) approved the company’s plan to list 34.65 million shares, accounting for 30% of its share capital in September. Nice One Beauty Digital Marketing Company's listing on Tadawul is expected to bring exciting opportunities for investors and further growth for the company in the digital marketing sector.
Nice One Beauty Digital Marketing Company successfully concluded the individual investor offering period and finalized the allotment of the offered shares for its initial public offering (IPO) on the Saudi Exchange (Tadawul). The company set the final price for its IPO at SAR 25 per share, which led to an oversubscription of 139.40 times the total offered shares, as stated in a press release.
During the individual investor offering, which took place from 24 December to 25 December 2024, the offering saw 418,116 individual investors place orders totaling SAR 908 million. This reflected an impressive subscription coverage of 7.50 times for this tranche. A total of 3.46 million shares, representing 10% of the total shares, were allocated to the Individual Investors tranche.
In the retail subscription process, participating parties were allocated 31.18 million shares, representing 90% of the total offer shares. However, this clawback did not apply to cornerstone investors, with a final allocation of 4.33 million shares in all cases. Following the IPO listing, Nice One is expected to have a free float of 34.65 million shares, which is 30% of its total 115.50 million shares.
This successful IPO comes after the Capital Market Authority (CMA) approved the company’s plan to list 34.65 million shares, accounting for 30% of its share capital in September. Nice One Beauty Digital Marketing Company's listing on Tadawul is expected to bring exciting opportunities for investors and further growth for the company in the digital marketing sector.
Disclaimer: the above is a summary showing certain market information. KlickAnalytics is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from various resources and more. Communications displaying market prices, data and other information available in this post are meant for purely for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.