Posted on

Johnson & Johnson spin off Kenvue Consumer Brands Largest Initial Public Offering in More than a Year

20230504 123652 scaled

the staff of the Ridgewood blog

Summit NJ, Johnson & Johnson spun off its Kenvue consumer brands division on Thursday, raising the most cash from an initial public offering (IPO) in more than a year. Johnson & Johnson said it sold 172.8 million shares(opens in new tab) at $22 a pop in Kenvue, giving the company whose brands include Band-Aid, Tylenol and Listerine a valuation of roughly $40 billion.

Johnson & Johnson, a component of the Dow Jones Industrial Average, raised $3.8 billion from the offering. That’s the largest haul from an IPO since late 2021, according to Renaissance Capital. The IPO market dried up in 2022 amid a historically bad year for stocks and the hangover from 2021’s frenzy of fizzled SPAC offerings.

Filming in North Jersey, Invest in THE KING OF CON: The True Tale of Thomas Giacomaro: Con Man, Mob Guy, Fugitive, FBI Informant
How to invest on #EquityCrowdfunding Site #Wefunder

Goldman Sachs, JPMorgan Chase and Bank of America are acting as the lead underwriters for the IPO. Shares will begin trading Thursday on New York Stock Exchange under the ticker “KVUE.”

Here are some of the consumer brands under Kenvue:

AVEENO: a line of skincare and hair care products
BAND-AID: adhesive bandages and first-aid products
BENADRYL: allergy and itch relief products
CLEAN & CLEAR: skincare products for acne-prone skin
JOHNSON’S: baby and child skincare products
LISTERINE: mouthwash and oral care products
MOTRIN: pain relief medication
NEUTROGENA: skincare and hair care products
OGX: hair care products
REACH: dental floss and oral care products
ROC: skincare products for anti-aging and wrinkle reduction
SUDAFED: decongestant medication

Tom Bracken, President & CEO, New Jersey Chamber of Commerce said , ” Johnson & Johnson has a long, storied history in New Jersey and we are pleased that its spinoff, Kenvue, has chosen Summit as its headquarters. The company received no state tax incentives when making this decision. Therefore, this is another recent example of a company looking at all New Jersey has to offer its employees and operations and choosing the Garden State over other states due to our superior demographics, our enormous array of assets and our ideal location. Additionally, we wish Kenvue, a soon to be Fortune 100 company, the all the best as it delivers iconic brands to consumers in New Jersey and the rest of the world. This is a win for our economy and all New Jerseyans.”


Take a Wall Street Tour  #walkingtournyc #nyc #walkingtour #manhattan #newyorkcity #nyctour #nyctourism #tournewyork #tournyc #tourismnyc #newyork #historicnyc #travel #bigapple #wallstreet #nychistory #wallstreettours

One thought on “Johnson & Johnson spin off Kenvue Consumer Brands Largest Initial Public Offering in More than a Year

  1. excellent …………………..

Leave a Reply

Your email address will not be published. Required fields are marked *