J&J Consumer Health Spinoff Kenvue Begins IPO Roadshow

Johnson & Johnson’s Kenvue Inc.—the new standalone entity that represents J&J’s consumer health business—has launched the roadshow for the initial public offering (IPO) of 151,204,000 shares of its common stock.

Kenvue’s portfolio includes Aveeno, Neutrogena, Johnsons, Dr. CI: Labo, Listerine and more iconic health brands like Band-Aid and Tylenol.

J&J unveiled the new name for the unit in September 2022 previously reported by Happi. The healthcare giant announced the plan to spin off the business and create two separate operations in 2021.

Kenvue IPO

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, if any. The IPO price is currently expected to be between $20.00 and $23.00 per share.

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 (or 90.8% if the underwriters exercise in full their over-allotment option).