Jessica Alba’s Honest Co. Jumps After U.S. IPO
(Bloomberg) -- The Honest Co., the personal-care products brand co-founded by actress Jessica Alba, jumped as much as 36% in its U.S. listing debut.
The company’s shares opened at $21.22, after pricing at $16 each. Honest and its existing stockholders, including private equity firm L Catterton and General Catalyst, raised $413 million in the share sale.
At $21.22, Honest has a market value of about $1.9 billion, according to Bloomberg calculations.
Founded in 2011, Los Angeles-based Honest generated about $301 million of revenue last year, a 28% increase over 2019. It lost $14.5 million in 2020.
The offering was led by Morgan Stanley, JPMorgan Chase & Co. and Jefferies Financial Group Inc. The stock is trading on the Nasdaq Global Select Market under the symbol HNST.
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