off-the-wire

J&J's Kenvue prices IPO within range to raise $3.7 bln - source

Kitco Media
By Reuters
Published:
Updated:
Reuters
By Echo Wang NEW YORK, May 3 (Reuters) - Johnson & Johnson on Wednesday priced the initial public offering (IPO) of its consumer-health business at the upper end of its target range to raise $3.66 billion, people familiar with the matter said,


Kenvue Inc defied volatile market conditions to price about 166 million shares at $22 per share, the source said, requesting anonymity as these discussions are confidential. The IPO values Kenvue at about $41 billion.


Kenvue had earlier said it planned to sell 151 million shares at a range of between $20 and $23 per share. J&J did not immediately respond to a request for comment.
(Reporting by Echo Wang in New York; Editing by Anirban Sen)

E.Wang@thomsonreuters.com@reuters.net))
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