Israel’s Oddity Tech Seeks Up to $1.7 Billion Valuation in US IPO
Israel-based Oddity Tech will seek a valuation of up to $1.7 billion in its US initial public offering (IPO), the beauty and wellness products company said on Monday.
The company is aiming to price its shares between $27 and $30 each to raise up to $315.8 million.
If the IPO is priced at the top end of the range, more than $263 million would go to existing investors who are selling some shares.
Oddity joins a host of companies that have rushed to the stock market in recent weeks, encouraged by strong debuts from firms like Johnson & Johnson’s consumer health unit Kenvue.
Oddity, which owns the IL Makiage and SpoiledChild brands, is seeking to list on the Nasdaq under the symbol “ODD.”
Goldman Sachs, Morgan Stanley and Allen & Co are the lead underwriters, Oddity said.