Online cosmetics retailer Nice One, Saudi Arabia, is planning an initial public offering, joining a number of technology startups in the Middle East that are planning to sell their shares.

According to Bloomberg, Nice One has asked banks to participate in the potential deal, according to people familiar with the matter. The sources, who requested anonymity, said that deliberations are continuing and that details such as the size and timing of the public offering have not yet been determined.

It is noteworthy that the e-commerce company was founded in 2016, and is part of a growing group of technology startups working on initial public offerings in the Middle East, as regional stock exchanges look to diversify their listed companies outside the banking and industrial companies sectors that dominated the stock exchanges for years.