Jessica Alba backed Honest Co aims for a $1.5 billion valuation of its IPO in U.S.

Jessica Alba's Honest Co on Monday announced the terms of its initial public offering (IPO) in the United States under which it expects to raise more than $1.5 billion.Alba, best known for her appearances in the films Fantastic Four and Dark Angel, co-founded Honest in 2011, which promotes its infant goods as a cleaner alternative to those who use toxic chemicals.The IPO is estimated to price between $14 and $17 per share, according to the company's announcement on Monday. The IPO will offer a total of 25.81 million shares, with the company offering 6.45 million shares to raise to $109.7 million and selling shareholders offering 19.36 million shares to raise upto $329.0 million.Following the IPO, the company expects to have 90.52 million shares outstanding.The business, which also sells a variety of consumer products such as sunscreen lotions, sanitizers, and detergents, intends to expand its online presence and expand its reach in international markets, including the lucrative Asian zone.The Los Angeles-based organization intends to list its stock on the Nasdaq under the name HNST.”Honest will earn about $110 million at the high end of the spectrum, excluding proceeds from stockholder shares offered.The company stated that the proceeds from the offering would be used to finance promotions and direct-to-consumer advertisements, as well as the introduction of new products and the acquisition of complementary companies, Reuters reported.Morgan Stanley, Jefferies, and J.P. Morgan are among the offering's lead underwriters.