JOHNSON & JOHNSON EXPECTS TO PRICE CONSUMER HEALTH COMPANY KENVUE AT $20 TO $23 PER SHARE

25 April 2023

According to SEC filing, Johnson & Johnson (NYSE: JNJ) expects to price consumer health company Kenvue shares at $20 to $23 per share.

Johnson & Johnson expects to sell approximately 151.2 mil shares in the IPO (173.9 mil assuming over-allotments) and will have approximately 1,867.4 mil shares outstanding after the IPO (1,890 mil shares assuming over-allotments).

At the min-point of the expected IPO pricing range ($21.5 per share), Kenvue’s market capitalization is expected to be approximately $30 billion.

Shares of Kenvue will be listed on NYSE under the symbol “KVUE”

More, Source: Company’s SEC filing