EFG Hermes Completes Advisory on the IPO of Nice One – The first unicorn company in the tech space to debut on the main Saudi Exchange
تاريخ النشر: 8th, January 2025 GMT
EFG Hermes، an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA)، announced today that its investment banking division successfully completed its advisory on the unicorn initial public offering (IPO) of Nice One Beauty، the leading beauty and personal care e-commerce platform in Saudi Arabia، representing the first e-commerce platform to be listed on the main Saudi Exchange.
Nice One offered a total of 30% of its total issued share capital through the sale of 34.65 million ordinary shares at SAR 35 per share، representing an offer size of USD 323 million and implying a market capitalization of SAR 4.0 billion (USD 1.0 billion).
The IPO captured the attention of local، regional، and international investors، with the total book covered approximately 139.4 times. The company began trading today under the ticker “NICE ONE”.
Saud Altassan، CEO of EFG Hermes KSA، commented، “We are proud to have played a role in yet another milestone transaction in Saudi Arabia’s capital market، further cementing our position as a trusted advisor in the Kingdom. This IPO underscores the growing appetite for dynamic، tech-enabled businesses like Nice One and highlights the robust demand from investors for new opportunities in Saudi Arabia، such as the e-commerce sector. This transaction reinforces EFG Hermes’ edge in advising on tech transactions and growth stories across the region and reflects its strong commitment to leverage deep expertise and strong investor relationships to bring landmark deals to fruition، such as the IPO of Nice One.”
Amr Abdel-Khabir، Managing Director at EFG Hermes’ Investment Banking division، added، “The successful completion of the Nice One IPO reflects the increasing maturity and dynamism of the Saudi capital market، as well as investor appetite for growth stories in the Kingdom. As one of the region’s leading e-commerce platforms، Nice One is well-positioned to capitalize on the rapid digital transformation in Saudi Arabia. This transaction further reinforces our ability to deliver seamless execution and strategic advisory to our clients، while highlighting the strength of the founder-led team that brought Nice One to what it is today. We are delighted to be part of Nice One’s success journey.”
Founded in 2017 by Omar and Abdulrahman AlOlayan، the Nice One platform sells over 28،000 SKUs across categories، including makeup، perfume، care، and others from more than 1،200 international and local brands. The company currently offers both international brands and its own exclusive product lines. Nice One reported revenue of USD 186 million for the first nine months of 2024، up 36% year-on-year، with a net profit of USD 17.6 million، more than double the same period last year، a testament of the strong growth profile of the company.
EFG Hermes acted as joint Financial Advisor، Bookrunner، and Underwriter on the transaction.
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EFG Hermes Completes Advisory on USD 449 Million IPO of Almoosa Healthcare Company on the Saudi Exchange
EFG Hermes، an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA)، announced today that its investment banking division successfully completed its advisory on the USD 449 million initial public offering (IPO) of Almoosa Healthcare Company، a leading healthcare service provider in Saudi Arabia، on the Saudi Exchange.
Almoosa Health offered a total of 30% of its total issued share capital through the sale of 9،303،580 new ordinary shares (representing 12.93%) and 3،987،494 current ordinary shares at SAR 127 per share، implying a market capitalization of SAR 5.6 billion (USD 1.5 billion).
The IPO captured the attention of local، regional، and international investors، with the total book covered approximately 103 times. The company began trading today under the ticker ALMOOSA.
Saud Altassan، CEO of EFG Hermes KSA، commented، “We are honored to have played a pivotal role in the successful IPO of Almoosa Specialist Hospital، a key milestone for Saudi Arabia’s thriving healthcare sector. The strong investor demand reflects confidence in the market’s potential and reinforces EFG Hermes’ position as a leader in capital market advisory across the region. We remain dedicated to delivering exceptional outcomes for our clients and fostering growth in dynamic sectors like healthcare.”
Karim Meleka، Co-Head of Investment Banking at EFG Hermes، added، “The success of Almoosa Health’s IPO underscores the market’s strong appetite for high-quality healthcare assets in the Kingdom. We are proud to have played a role in the second Saudi healthcare group IPO this year، and we look forward to building on this momentum in 2025.”
Almoosa Health is one of Saudi Arabia’s leading integrated healthcare providers، earning the trust of millions of families over three decades. Based in the Eastern Province، the Company operates two hospitals with a combined capacity of 730 beds: Al Moosa Specialist Hospital (430 beds) and Al Moosa Rehabilitation Hospital (300 beds)، both located in Al Ahsa. Serving one million patients annually، the Company is supported by a team of 326 skilled physicians across diverse specialties. Almoosa Health maintains a robust financial profile، generating SAR 979 million in revenue and SAR 98 million in net income in 2023 and reporting SAR 870 million in revenue and SAR 40 million in net income for the first nine months of 2024، underscoring its strong market presence and sustained profitability.
EFG Hermes acted as a Joint Bookrunner and Underwriter on the transaction.
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