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Johnson & Johnson prices consumer spinoff Kenvue at $20-$23 a share in IPO

Investing.com -- Johnson & Johnson (NYSE:JNJ) priced shares of its consumer spinoff Kenvue at $20 to $23 apiece in an initial public offering, the company said in a filing Monday.

The consumer health business is seeking to raise about $3.25 billion from the sale of about 151.2 million shares.

Following the completion of the IPO, Johnson & Johnson would continue to own a 91.9% stake in Kenvue, which will trade on the New York Stock Exchange under the ticker “KVUE”.

J&J detailed plans to spin off its consumer health business in late 2021.

The lead underwriters are Goldman Sachs, JP Morgan, BofA Securities, Citigroup, and Deutsche Bank.

JNJ traded roughly flat in after-hours trade on Monday.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.