By Sabela Ojea

Johnson & Johnson said Monday that it launched a roadshow for an initial public offering of less than 10% of the common stock of its wholly owned subsidiary and consumer health business Kenvue Inc.

The company is selling 151.2 million shares of Kenvue, the producer of household names such as Tylenol, at a price that is expected to be in the range of $20 and $23.

The initial public offering would be worth between $3.02 billion and $4.54 billion.

Once the IPO has been completed, Johnson & Johnson will own 1.72 billion shares of Kenvue's common shares, representing 91.9% of its total stock.

The Wall Street Journal reported Sunday in an exclusive that Johnson & Johnson was poised to begin a roadshow to pitch shares of Kenvue.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

April 24, 2023 17:02 ET (21:02 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Johnson and Johnson (NYSE:JNJ)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024 Click aqui para mais gráficos Johnson and Johnson.
Johnson and Johnson (NYSE:JNJ)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024 Click aqui para mais gráficos Johnson and Johnson.