Just over a year ago, Johnson & Johnson (J&J) announced it would hive off its Consumer Health business as a separate listed company. In September, the multinational revealed a revamped name for the division – Kenvue.
The new entity includes some of J&J’s major power brands such as Aveeno, Neutrogena, Tylenol, Band-Aid, Listerine, Johnson’s baby care and Dr C: Labo, Japan’s top medical cosmetic brand.
J&J have revealed that it will offer an IPO ( initial public offering) on the New York Stock Exchange. The move bills Kenvue as “the world’s largest pure-play consumer health care company by revenue” with US$15.1 billion in global sales in 2021.
Financial heavyweights – JP Morgan and Goldman Sachs – are the underwriters for the much-anticipated IPO. Upon completion of the process, J&J will retain at least 80.1 per cent of the voting power of shares in common stock.
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