Johnson & Johnson to list its consumer health care products on the stock exchange

By

Sarah Ahssen

Published
Apr 27, 2023

Johnson & Johnson, owner of Neutrogena and Le Petit Marseillais announced in a press release dated April 24 its intention to list its consumer health care business on the New York Stock Exchange at a price of between 37 and 43 billion dollars.

While the date of the listing remains undetermined, Johnson & Johnson has indicated that it intends to market 151.2 million shares of the new company, called Kenvue, which includes the Neutrogena and Aveeno skincare brands and Band-Aid dressings, at a price of between 20 and 23 dollars per share. Johnson & Johnson would raise between 3 and 3.5 billion dollars in the process.

At the end of the IPO, Johnson & Johnson would still hold 91.9% of the capital and 90.8% if the over-allotment option is exercised.

In the first quarter of 2023, Johnson & Johnson's consumer health care division reported sales of $3.8 billion, up 7.4%.