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Saudi Arabian on-line cosmetics retailer Good One Magnificence plans to lift as a lot as 1.21 billion riyals ($322 million) with an preliminary public providing in Riyadh, including to a flurry of listings within the kingdom this 12 months.
The agency will supply a 30 p.c stake at 32 riyal to 35 riyals per share, in line with a press release on Sunday. On the prime finish of that worth vary, the agency could be valued at 4 billion riyals.
Institutional bookbuilding will run till Dec. 8. EFG Hermes and SNB Capital are joint monetary advisers on the transaction.
Deal exercise within the magnificence sector is about to choose up within the area, with Dubai-based cosmetics agency Huda Magnificence additionally exploring the sale of its fast-growing fragrance enterprise.
Based in 2016, Good One is the newest in a collection of IPOs throughout the dominion, which have raised about $3 billion this 12 months. A handful of different digital providers companies have been weighing plans to checklist in Saudi, together with buy-now-pay-later fintech unicorn Tabby and on-line florist Floward.
Total within the Center East, companies have raised about $10 billion from new share gross sales in 2024. Saudi hospital operator Almoosa has additionally unveiled plans to checklist.
By Laura Gardner Cuesta
Why Vogue Is Betting Large on Saudi Arabia
The dominion is about to drive progress for the trade as its financial system booms, social reforms reshape client tradition and futuristic cities sprout from the desert.
