Jessica Alba's Company Soars 44% on Nasdaq Debut Day

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] The lifestyle products company The Honest Company, co-founded by Hollywood actress Jessica Alba, saw its stock price rise 44% above the offering price on its first day of trading on the 5th (local time).

According to the Wall Street Journal (WSJ) on the day, The Honest Company's stock, listed on the Nasdaq market, closed at $23, up about 44% from the offering price of $16.

As a result, The Honest Company's market capitalization reached a total of $2.68 billion.

The Honest Company raised $413 million (approximately 464.7 billion KRW) through this initial public offering (IPO).

The value of the shares held by Jessica Alba in the company amounts to $130 million.

In a recent interview, Jessica Alba expressed strong affection for the company, saying, "I often say The Honest Company is my fourth child."

Meanwhile, The Honest Company is an eco-friendly product specialist company co-founded in 2012 by Alba, environmental activist Christopher Gavigan, and Korean-American Brian Lee. It started mainly with baby products such as diapers and grew by expanding its product range to cosmetics and cleaning agents.