Oscar Health boosts IPO to $1.18 billion

(Bloomberg) --Oscar Health Inc., the health insurance startup co-founded by Josh Kushner, is seeking as much as $1.18 billion after boosting the price range of its initial public offering.

The New York-based company and its existing shareholders are offering 31 million shares at $36 to $38 apiece, according to an updated filing with the U.S. Securities and Exchange Commission on Tuesday. The shares were previously marketed at $32 to $34.

Oscar Health would have a market capitalization of $7.5 billion at the top end of the new range, according to data compiled by Bloomberg.

Oscar Health is expected to begin trading in New York on Wednesday under the symbol OSCR. Goldman Sachs Group Inc., Morgan Stanley, Allen & Co. and Wells Fargo & Co. are leading the offering.