Johnson & Johnson has announced that Kenvue Inc. has launched a roadshow for the initial public offering (IPO) of 151,204,000 shares of its common stock. Johnson & Johnson debuted the new consumer health company in October 2022. Kenvue is set to encompass brands including Neutrogena.
The IPO price is expected to be between $20.00 and $23.00 per share.
Kenvue expects to grant the underwriters a 30-day option to purchase up to an additional 22,680,600 shares of its common stock to cover over-allotments.
Kenvue has applied to list its common stock on the New York Stock Exchange under the symbol “KVUE.”
After the completion of the IPO, Johnson & Johnson will own 1,716,160,000 shares of Kenvue’s common stock, representing 91.9% of the total outstanding shares of Kenvue’s common stock.