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Kiplinger
Kiplinger
Business
Dan Burrows

Johnson & Johnson Spins Off Kenvue in Biggest IPO Haul Since 2021

Kenvue Johnson & Johnson ( IPO JNJ Renaissance Capital
Johnson & Johnson photo shows A bottle of Tylenol sitting next to a box of Tylenol

Johnson & Johnson (JNJ) spun off its Kenvue (KVUE) consumer brands division on Thursday, raising the most cash from an initial public offering (IPO) in more than a year.

Johnson & Johnson said it sold 172.8 million shares at $22 a pop in Kenvue, giving the company whose brands include Band-Aid, Tylenol and Listerine a valuation of roughly $40 billion.

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