Olaplex IPO: Hair products maker raises stock price range, is it a buy?

3 min read | September 29, 2021 08:17 PM AEST | By Raza Naqvi

Olaplex IPO: Hair products maker raises stock price range, is it a buy? — Image source: © Demidovichphotostock/Megapixl.com

Olaplex IPO: Key details

Bought by Advent International in 2019, 79.6 per cent of the combined voting power will be owned by Advent after the initial public offering. The date of the public debut is not out yet, however, the company hopes to offer common shares on the Nasdaq Stock Market.

Olaplex could trade under the stock symbol 'OLPX' and the underwriting responsibility for the IPO will be led by Barclays, Morgan Stanley, Goldman Sachs & Co, and JP Morgan.

Also read: Copperleaf IPO: How to buy the decision analytics firm’s stock?

As per a Form S-1 filed with the US Securities and Exchange Commission (SEC), Olaplex's net sales were US$ 270.2 million for the two quarters that ended June 30, 2021. In the comparable period of the previous year, the net sales were US$ 99.6 million.

In comparison to a net loss of US$ 22.4 million for the six months ended June 30, 2020, Olaplex achieved a net income of US$ 94.9 million in the same comparable period of this year.

Olaplex IPO is on the cards amid worldwide IPO frenzy

Notably, Olaplex once got involved in a legal battle with L'Oreal USA Inc, after it accused the latter of stealing its trade secrets and patents infringement. However, Olaplex lost the case after the US Court of Appeals for the Federal Circuit dismissed the claims and said it failed to show information that would establish eligibility for trade-secret protection.

Also read: D2L IPO: How to buy Waterloo-based online learning platform’s stock?

Bottom line

Potential investors interested in the Olaplex IPO could research the company and go through its fundamentals before making up their minds to invest in the company.

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