July 10 (Reuters) – Israel-based Oddity Tech will seek a valuation of up to $1.7 billion in its U.S. 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 (JNJ.N) consumer health unit Kenvue (KVUE.N).
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.
Reporting by Niket Nishant in Bengaluru; Editing by Sriraj Kalluvila and Arun Koyyur
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Israel’s Oddity Tech seeks up to $1.7 bln valuation in U.S. IPO
