Johnson & Johnson (J&J’s) consumer health segment Kenvue has filed to be listed as an independent company, Kenvue Inc.
Goldman Sachs and J.P. Morgan are the underwriters for the offering.
Upon completion of the IPO, J&J will retain ownership of at least 80.1% of the voting power of shares of common stock.
The name Kenvue was unveiled in September 2022, with the announcement that Aveeno, Neutrogena, Johnson’s, Tylenol and Dr.Ci:Labo would be among the brands included in its portfolio.
In its filing, Kenvue noted that LTL Management, the subsidiary J&J set up to enact a Texas two-step bankruptcy, would remain as part of J&J and not Kenvue.