Online health retailer iHerb has selected banks to manage its upcoming initial public offering, according to people familiar with the process. The company, which specializes in selling vitamins and dietary supplements, seeks to raise approximately $500 million through the deal. This move signals a significant attempt to tap public markets for capital.

Investors are watching the retailer as it prepares for this transition. By choosing lead underwriters, the company is moving into the final stages of a formal listing process. This transaction represents a major milestone for the e-commerce business as it seeks to institutionalize its operations and expand its market presence within the wellness sector.

Executing a deal of this size requires careful coordination with financial institutions to ensure successful pricing. The potential $500 million injection would provide the capital necessary to support its ongoing business model. The company is currently finalizing the banking group responsible for steering the offering to market.