Johnson & Johnson’s Kenvue valued at around $41 billion in IPO

By Julia Wray | Published: 4-May-2023

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

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.

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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.

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