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2021-10-01

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Haircare firm Olaplex spikes 17% on its first day of trading

Haircare firm Olaplex spikes 17% on its first day of trading. Hair products maker Olaplex Holdings,

Haircare firm Olaplex spikes 17% on its first day of trading

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It had earlier planned to sell 67 million shares in the price range between $17 and $19 each.</p>\n<p>Olaplex’s offering comes as Americans, over the past year, spent more on skin and hair care products compared to make-up and cosmetics due to the COVID-19 pandemic and its associated lockdowns.</p>\n<p>The company sells shampoos, conditioners, treatments and oils aimed at treating damaged hair, with prices running up to as much as $196 for a bundle.</p>\n<p>Its net sales grew 90% year-over-year in 2020, a recent regulatory filing showed, while adjusted net income rose to $131.1 million over the same period from $100.5 million a year earlier.</p>\n<p>Founded in 2014 in a California garage, Olaplex sells its products in more than 100 countries, with beauty chain Sephora and SalonCentric and Sally Beauty Holding Inc’s Beauty Systems Group among its biggest customers.</p>\n<p>Advent, which bought Olaplex in 2019, owns about 79.6% of the combined voting power in the company after the offering through associated investment funds.</p>\n<p>Olaplex shares are expected to begin trading on the Nasdaq later on Thursday under the symbol “OLPX”, and the offering is expected to close on Oct. 4.</p>\n<p>Goldman Sachs &amp; Co, J.P. Morgan, Morgan Stanley and Barclays were the lead underwriters for the IPO.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Haircare firm Olaplex spikes 17% on its first day of trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHaircare firm Olaplex spikes 17% on its first day of trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-10-01 00:26</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Haircare firm Olaplex spikes 17% on its first day of trading.</p>\n<p><img src=\"https://static.tigerbbs.com/3dba0d95dc171cf44c5b8cc6510c33e7\" tg-width=\"1836\" tg-height=\"819\" width=\"100%\" height=\"auto\"></p>\n<p>Hair products maker <b><a href=\"https://laohu8.com/S/OLPX\">Olaplex Holdings, Inc.</a></b> fetched a valuation of more than $13.6 billion in an upsized initial public offering after pricing shares at $21 apiece, the Advent International-owned company said on Thursday.</p>\n<p>The Santa Barbara, California-based company saidrefini.tv/3AWFZRlit offered 73.7 million shares, raising about $1.55 billion. It had earlier planned to sell 67 million shares in the price range between $17 and $19 each.</p>\n<p>Olaplex’s offering comes as Americans, over the past year, spent more on skin and hair care products compared to make-up and cosmetics due to the COVID-19 pandemic and its associated lockdowns.</p>\n<p>The company sells shampoos, conditioners, treatments and oils aimed at treating damaged hair, with prices running up to as much as $196 for a bundle.</p>\n<p>Its net sales grew 90% year-over-year in 2020, a recent regulatory filing showed, while adjusted net income rose to $131.1 million over the same period from $100.5 million a year earlier.</p>\n<p>Founded in 2014 in a California garage, Olaplex sells its products in more than 100 countries, with beauty chain Sephora and SalonCentric and Sally Beauty Holding Inc’s Beauty Systems Group among its biggest customers.</p>\n<p>Advent, which bought Olaplex in 2019, owns about 79.6% of the combined voting power in the company after the offering through associated investment funds.</p>\n<p>Olaplex shares are expected to begin trading on the Nasdaq later on Thursday under the symbol “OLPX”, and the offering is expected to close on Oct. 4.</p>\n<p>Goldman Sachs &amp; Co, J.P. Morgan, Morgan Stanley and Barclays were the lead underwriters for the IPO.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OLPX":"Olaplex Holdings, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143063659","content_text":"Haircare firm Olaplex spikes 17% on its first day of trading.\n\nHair products maker Olaplex Holdings, Inc. fetched a valuation of more than $13.6 billion in an upsized initial public offering after pricing shares at $21 apiece, the Advent International-owned company said on Thursday.\nThe Santa Barbara, California-based company saidrefini.tv/3AWFZRlit offered 73.7 million shares, raising about $1.55 billion. 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