Published - May 9th, 2023 @ 02:45 PM (CET)
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Kenvue Inc. (NYSE:KVUE)

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The world's largest pure-play consumer health company by revenue, announced the successful closing of its initial public offering (IPO) on May 4, 2023. The company offered 198,734,444 shares of its common stock at $22.00 per share to the public, including the underwriters' full exercise of their option to purchase 25,921,884 additional shares to cover over-allotments.
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Following the IPO's closing, Kenvue's common stock started trading on the New York Stock Exchange under the ticker symbol "KVUE." As a result of the IPO, Johnson & Johnson (NYSE:JNJ) now owns approximately 89.6% of the total outstanding shares of Kenvue common stock. Johnson & Johnson has publicly stated its intention to dispose of its majority stake in Kenvue common stock in 2023, subject to market conditions.
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The net proceeds from the IPO will be paid to Johnson & Johnson as partial consideration for the consumer health businesses that the company transferred to Kenvue in connection with the IPO.
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Goldman Sachs & Co. LLC, J.P. Morgan, and BofA Securities acted as joint lead book-running managers for the IPO. Citigroup, Deutsche Bank Securities, BNP Paribas, HSBC, RBC Capital Markets, and UBS Investment Bank served as book-running managers for the IPO. BBVA, ING, IMI - Intesa Sanpaolo, Santander, UniCredit Capital Markets, Academy Securities, Independence Point Securities, Ramirez & Co., Inc., R. Seelaus & Co., LLC, and Siebert Williams Shank acted as co-managers for the IPO.
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The offering was made only utilizing a prospectus, which can be obtained from Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, or BofA Securities. A registration statement relating to these securities was filed with and declared effective by the U.S. Securities and Exchange Commission.

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Successful IPO completion
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The successful completion of Kenvue's IPO marks a significant milestone for the company as it continues to grow and dominate the consumer health market. With Johnson & Johnson retaining a majority stake in Kenvue, the two companies are set to maintain a strong partnership, benefiting from each other's expertise and market presence.
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Kenvue's IPO demonstrates investor confidence in its growth potential and solidifies its position as the world's largest pure-play consumer health company by revenue. As Kenvue becomes a publicly traded company, industry experts and investors will closely monitor its performance and growth prospects.

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Conclusion
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Kenvue Inc. has successfully closed its IPO, offering 198,734,444 shares of common stock for $22.00 per share, with Johnson & Johnson retaining an 89.6% stake in the company. The proceeds from the IPO will be used to compensate Johnson & Johnson for the consumer health businesses it transferred to Kenvue. The company's shares are now trading on the New York Stock Exchange under the ticker symbol "KVUE."

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