Kenvue, Johnson & Johnson's Consumer Health Spin-off, Set for $40 Billion IPO on NYSE

Johnson & Johnson recently stated in a regulatory filing that its consumer health company, Kenvue, will conduct an initial public offering (IPO) later this year, with the share price set between $20 and $23.
Based on the above-mentioned share price range, the valuation of this spin-off is approximately $40 billion, potentially becoming the largest IPO in the U.S. market during this year's downturn. Johnson & Johnson stated that it has initiated the roadshow for an IPO of more than 151 million shares of common stock, with Kenvue expected to officially list on the NYSE on May 5. (The Wall Street Journal)