Saudi Arabia’s Nice One Soars 30% in Debut as IPO Rush Continues

Nice One Beauty Digital Marketing Co. surged in its debut after a $320 million initial public offering in Riyadh, the latest listing in Saudi Arabia to see a strong start.

Shares in the online cosmetics retailer jumped to as much as 45.5 riyals ($12.1) apiece Wednesday. That’s up 30% — the maximum allowed — from the offer price of 35 riyals per share

The firm sold a 30% stake at a price that implied a valuation of over 4 billion riyals.

Hospital operator Almoosa Health Co. also had a bumper debut on the Saudi bourse, rising as much as ...