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.

By Niket Nishant in Bengaluru; Editing by Sriraj Kalluvila and Arun Koyyur

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