- Johnson&Johnson JNJ is reportedly preparing an investor roadshow to showcase shares of his Consumer healthcare spinoff businesscalled Kenvue, already on Monday.
- Kenvue plans to meet with potential investors with the goal of raising over $3.5 billion on offer at a valuation of approximately $40 billion for Kenvue, its soon-to-be-spun-off consumer business that sells products like Tylenol and patches. apply and skincare brands like Aveeno and Neutrogena.
- Assuming the company and its advisers complete the listing, Kenvue’s shares would trade on the New York Stock Exchange under the ticker KVUE, the Wall Street Journal reported quote people who know about the matter.
- IPO roadshows typically last a few days to a week before the stock’s trading debut, the report added.
- In 2022, the division generated $14.95 billion, about 15% of JNJ’s total revenue.
- Kenvue’s IPO would be the largest U.S. IPO since intel INTC spun off its self-driving car unit Mobileye MBLY in 2022.
- Kenvue is expected to see modest sales growth in the coming years as it competes with consumer goods giants like Procter & Gamble Co PGthe consumer health departments of drug manufacturers including Bayer AG BAYRY And Sanofi SA SNYand the recent fork of consumers GSK plc GSK such as Haleon plc HLN.
- J&J will retain controlling interest in the company immediately after the IPO and has said it will divest the remainder of its stake later in 2023.
- Price promotion: JNJ shares are up 0.49% to $163.49 during the premarket session on last Check Monday.
- Photo via company
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