Sept 21 Budget cosmetics company ELF Beauty Inc
priced its initial public offering (IPO) above
expectations on Wednesday, raising $141 million in the United
States, according to a person familiar with the matter.
Founded in 2004 by father-son entrepreneurs Alan and Joey
Shama, ELF Beauty is among the growth-oriented brands that have
sprung up in recent years to capitalize on the struggles of some
older rivals to capture the interest of millennial shoppers.
ELF priced 8.3 million shares at $17 on Wednesday, above its
indicated range of $14 and $16, said the source, who asked not
to be identified because the information is not yet public.
A spokeswoman for ELF declined to comment.
(Reporting by Lauren Hirsch in New York; Editing by Matthew