Tylenol to Neutrogena, $40B Income Unit Spinoff Preps for IPO Blitz

Johnson & Johnson (NYSE: JNJ) is reportedly readying an investor roadshow to pitch shares of its consumer-healthcare spinoff enterprise, dubbed Kenvue, as early as Monday.
Kenvue plans to start out assembly with potential buyers with a aim to lift over $3.5 billion within the providing at a valuation of about $40 billion for Kenvue, its soon-to-be spun-off client enterprise, which sells merchandise like Tylenol, Band-Aids, and skin-care manufacturers like Aveeno and Neutrogena.
Assuming the corporate and its advisers handle to conclude the itemizing, Kenvue’s inventory would commerce on the New York Inventory Trade below the ticker KVUE, Wall Road Journal reported citing individuals accustomed to the matter.
IPO roadshows sometimes final from just a few days to per week earlier than the inventory’s buying and selling debut, the report added.
In 2022, the division generated $14.95 billion, round 15% of JNJ’s whole revenues.
Kenvue’s IPO would mark the most important U.S. IPO since Intel (NASDAQ: INTC) spun off its self-driving automotive unit Mobileye (NASDAQ: MBLY) in 2022.
Kenvue is predicted to have modest gross sales progress in coming years because it competes with consumer-product giants, together with Procter & Gamble Co (NYSE: PG), the consumer-health items of drugmakers together with Bayer AG (OTC: BAYRY) and Sanofi SA (NASDAQ: SNY), and up to date client spinoff of GSK plc (NYSE: GSK) similar to Haleon plc (NYSE: HLN).
J&J will preserve majority possession of the enterprise instantly following the IPO and has stated it plans to shed the remainder of its stake later in 2023.
Worth Motion: JNJ shares are up 0.49% at $163.49 throughout the premarket session on the final examine Monday.
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