The health care giant’s new consumer health arm priced above the middle of the expected range ahead of trading on the New York Stock Exchange
Kenvue includes beauty names Aveeno, Neutrogena and Johnson’s
Johnson & Johnson’s Kenvue consumer health business has been valued at around US$41bn in its initial public offering.
The company announced it will list 172,812,560 shares at a price of $22 per share, slightly above the middle of its price range.
Johnson & Johnson readies IPO for Kenvue consumer health business
It had earlier announced its intention to sell shares at a range between $20 and $23 per share.
The stock will begin trading on the New York Stock Exchange under the symbol KVUE today.
J&J will continue to own more than 90% of Kenvue’s shares.
The deal is said to be the largest IPO pan-industry to launch since electric vehicle maker Rivian Automotive listed its shares on Nasdaq in late 2021.
