Olaplex Holdings Inc. on Tuesday hiked the estimated price range of its upcoming initial public offering to $17-$19 a share, from $14-$16 a share. The Santa Barbara, Calif.-based hair-products maker kept the size of the offering at 67 million shares.
At the midpoint of the higher price range, the company will raise $1.2 billion with lead underwriters Goldman Sachs, J.P. Morgan Chase, Morgan Stanley and Barclays. The IPO is expected to price later this week and trade on the Nasdaq under the symbol OLPX. After the IPO, investment funds affiliated with Advent International Corp. will own about 78.2% of the company’s shares if the underwriters exercise their option to purchase additional shares of common stock.