Johnson & Johnson’s Kenvue consumer health business is preparing for an initial public offering of more than 151 million shares.
The health care giant said late Monday that the per-share IPO price for Kenvue Inc. should range between $20 and $23. J&J said Kenvue has launched a road show for its IPO. That involves the company talking to potential investors ahead of the offering.
The consumer health business sells well-known products like Band-Aids, Listerine and over-the-counter medicines such as Tylenol. J&J has said it expects an IPO by the end of the year.
J&J announced in late 2021 that it was splitting its consumer health division from the pharmaceutical and medical device divisions in a bid to make each more nimble.
-based J&J’s remaining businesses focus on pharmaceuticals and medical devices.
Kenvue has applied to list its stock under the ticker symbol “KVUE” on the New York Stock Exchange.
J&J, New Brunswick, New Jersey, will still own more than 90% of Kenvue’s shares after the IPO.