Johnson & Johnson plans to launch an initial public offering for Kenvue Inc., a completely owned subsidiary comprising its Consumer Health business, later this 12 months.
The corporate goals to lift as much as $3.5 billion within the IPO, which comes at a time of muted public offerings within the U.S.
J&J’s Consumer Health activity involves self care, skin health and sweetness, and essential health brands, including Neutrogena, Aveeno, Dr. Ci:Labo, NeoStrata, OGX, Dabao and Le Petit Marseillais.
J&J, which just launched a roadshow for the IPO, is offering 151.2 million shares of common stock of Kenvue, that are priced between $20 and $23 per share.
J&J said that it expects to grant the underwriters a 30-day choice to buy as much as a...
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