Kenvue Inc., the patron health subsidiary of Johnson & Johnson that encompasses Neutrogena, Aveeno and Tylenol brands, launched its initial public offering Thursday.
Shares began trading on the Recent York Stock Exchange under the symbol KVUE at $22 per share, valuing the corporate at roughly $42 billion, and poising it to boost about $3.8 billion. At market close, shares were trading at $26.46.
J&J still holds 90.9 percent of outstanding shares of the business.
J&J’s total consumer health business generated $15 billion in 2022, a 2.7 percent increase from the prior yr. It also announced the appointment of its designate chief executive officer, Thibaut Mongon, and its chief financial officer, Paul Ruh, in May of last yr.
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