Retail Nice One share price up 55% in first week of trading By Edmund Bower January 15, 2025, 12:20 PM Getty Images for Unsplash+ Saudi ecommerce platform Nice One sells cosmetics and personal care products to 4 million registered customers Cosmetics retailer soars Price rises 10% in a day 50 Saudi IPOs this year Nice One Beauty Digital Marketing Co’s shares jumped 9.81 percent on Tuesday, beginning the day at SAR49.75 ($13.25) and reaching SAR 54.30 by its close. Eight days after the Saudi cosmetics retailer launched an initial public offering (IPO) for 30 percent of its capital (36.5 million shares) on January 7, its shares have increased in value by 55 percent from the initial price of SAR35. The total IPO, which was worth $320 million, included a retail tranche of 10 percent that was eight-times oversubscribed and an institutional tranche, which accounted for 90 percent, that was 139-times oversubscribed. Nice One’s share price jumped 30 percent on the first day of trading, the maximum allowed. The ecommerce platform was launched by founder Omar AlOlayan in 2017, selling beauty and personal care products. It currently has a catalogue of more than 28,000 products and four million registered customers. In the first quarter of this year, it reported SAR250 million in revenue, a year-on-year increase of 61 percent. Nice One’s IPO is one of two to launch on the Tadawul this month, the other being Almoosa, a Saudi healthcare group that operates medical services throughout the kingdom. Strong post-IPO performance bodes well for Saudi flotations Saudi Arabia’s Riyad Capital explores $2.5bn IPO UAE capital markets are well placed for a stellar year Almoosa’s share price also rose 3.98 percent on Tuesday and has risen by a total of 7 percent since launching on 6 January. Their rise follows a strong year for Saudi companies post-IPO. Data compiled by AGBI and the London Stock Exchange Group show that 14 companies floated on the Tadawul since 1 January 2024 have raised more than $100 million; the average amount raised between them was $271 million. Investors expect newly floated companies to perform well across the GCC in 2025 amid interest from foreign institutions in Gulf IPOs. About 50 Saudi companies are expected to float on the Tadawul this year.