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Actress Jessica Alba cemented her claim to one of the most lucrative side gigs in Hollywood after shares of her beauty business, the Honest Company, looked to open at around $20.80, or 30 per cent above its IPO price.
The “clean” beauty and baby products maker had earlier priced its shares at $16, within its marketed range of $14 to $17. The indicated opening price values Ms Alba’s roughly 5 per cent stake at $88 million. She also has exercisable options valued at about $21m.
“I was born into a hardworking Mexican-American family. My parents worked multiple jobs, doing whatever it took to get by,” Ms Alba wrote in a letter included in the company’s prospectus, describing a childhood marked by poor health and hospital stays.