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SNB Capital Successfully Completes Nice One’s SAR 1.2bn IPO
SNB Capital played an instrumental role in Nice One Beauty Digital Marketing Company (Nice One) IPO, successfully executing a highly anticipated listing today on the Main Market of the Saudi Exchange, offering 34.65 million ordinary shares, amounting to 30% of the company’s share capital.
Following a well-received IPO that saw strong demand from investors, where institutional investors covered the issue more than 139 times, the final offering price, set at SAR 35 per share, was determined through a robust book-building process, raising a total of SAR 1.2bn (USD 323.4 million).
The successful completion of Nice One’s IPO, a leading Saudi e-commerce company for beauty, care, and perfume products in the Gulf and Middle East, reinforces SNB Capital’s role as a trusted partner for high-growth companies looking to scale and thrive in Saudi Arabia’s dynamic market. By delivering a seamless and robust advisory process, SNB Capital continues to support the expansion of innovative businesses, contributing to the diversification of the Kingdom’s economy and strengthening the appeal of its capital markets to regional and global investors
Zaid Ghoul, Head of Investment Banking at SNB Capital commented: “This successful IPO represents a significant milestone, not only for the company but also for the diversification of capital market offerings. We are pleased to work with visionary companies, such as Nice One, which have placed immense trust in SNB Capital to lead them on this next step in their growth journey. This achievement highlights the confidence of investors in the potential of technology-driven companies and reinforces Saudi Arabia's position as a hub for dynamic, future-focused businesses.”
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SNB Capital launches SAR 1 billion fund offering exposure to new real estate projects in Diriyah.
SNB Capital, the largest asset manager in Saudi Arabia, in collaboration with Al-Shegrey Investment Group, has launched the Al-Ahli Al-Basateen Real Estate Fund, that will provide investors with exposure to key office and commercial real estate projects in the Al-Basateen District of Diriyah governate.
The SAR 1 billion fund is linked to two projects located on King Khalid Road and Imam Saud bin Faisal Road, both being developed by Al-Basateen Real Estate Company. Al-Basateen Offices covers an area of 25,072 square meters, offering over 30,000 square meters of office space. Palm Sultana, meanwhile, covers an area of 10,326 square meters, and will provide up to 13,000 square meters of commercial and office rental spaces.
"We are proud of this partnership, which represents a new milestone in developing unique and high-quality projects that cater to the growing demand for the office and the commercial sectors in Riyadh,” said Abdulaziz Khalid Al-Shegrey, CEO of Al-Basateen Company. “This project will serve as an exemplary model for the integration of modern designs, cultural identity, and the authentic architectural heritage of the Kingdom. We aim to leverage the plentiful opportunities opened by Saudi Vision 2030 to enhance the real estate sector and elevate its products."
The launch of the new fund is a response to the growing demand for high quality office and commercial real estate in the capital city, which has helped to make the Kingdom’s real estate sector one of the most dynamic in the region.
“This step is motivated by our deep belief in the importance of empowering and developing the real estate sector, which is witnessing a remarkable boom as one of the promising sectors with an essential role in achieving the goals of Saudi Vision 2030. It also reflects our commitment to empowering investors and providing them with the skills and investment products necessary to achieve growth and prosperity, and we are proud to be an active element in this project,” said SNB Capital CEO, Rashed Sharif.
Closing of Saudi Aramco Fully Marketed Secondary Offering
SNB Capital announces the successful completion of the secondary public offering of shares of Saudi Aramco, the largest secondary offering in EMEA since the year 2000 and the largest ECM offering in the Middle East, after the Company’s own IPO in 2019.
The 1.545 billion shares, representing approximately 0.64% of the company’s issued shares, drew noticeable level of local and international demand highlighting the significant interest in Saudi Aramco track record of operational and financial excellence and the growing recognition of its competitive strength and long-term prospects. The sale raised SAR 42.10 billion (USD 11.23 billion) prior to the Over-allotment option, which if exercised in full, will increase the size to SAR 46.31 billion (USD 12.35 billion). The final offer price for both institutional and retail investors was set at SAR 27.25 (USD 7.26).
SNB Capital acted as the lead manager and also as a joint global coordinator with Citigroup Saudi Arabia, Goldman Sachs Saudi Arabia, HSBC Saudi Arabia, J.P. Morgan Saudi Arabia Company, Merrill Lynch Kingdom of Saudi Arabia, Morgan Stanley Saudi Arabia, with M. Klein & Company and Moelis & Company UK LLP acting as Independent Financial Advisors for the Offering.
