- Home
- Medical news & Guidelines
- Anesthesiology
- Cardiology and CTVS
- Critical Care
- Dentistry
- Dermatology
- Diabetes and Endocrinology
- ENT
- Gastroenterology
- Medicine
- Nephrology
- Neurology
- Obstretics-Gynaecology
- Oncology
- Ophthalmology
- Orthopaedics
- Pediatrics-Neonatology
- Psychiatry
- Pulmonology
- Radiology
- Surgery
- Urology
- Laboratory Medicine
- Diet
- Nursing
- Paramedical
- Physiotherapy
- Health news
- Fact Check
- Bone Health Fact Check
- Brain Health Fact Check
- Cancer Related Fact Check
- Child Care Fact Check
- Dental and oral health fact check
- Diabetes and metabolic health fact check
- Diet and Nutrition Fact Check
- Eye and ENT Care Fact Check
- Fitness fact check
- Gut health fact check
- Heart health fact check
- Kidney health fact check
- Medical education fact check
- Men's health fact check
- Respiratory fact check
- Skin and hair care fact check
- Vaccine and Immunization fact check
- Women's health fact check
- AYUSH
- State News
- Andaman and Nicobar Islands
- Andhra Pradesh
- Arunachal Pradesh
- Assam
- Bihar
- Chandigarh
- Chattisgarh
- Dadra and Nagar Haveli
- Daman and Diu
- Delhi
- Goa
- Gujarat
- Haryana
- Himachal Pradesh
- Jammu & Kashmir
- Jharkhand
- Karnataka
- Kerala
- Ladakh
- Lakshadweep
- Madhya Pradesh
- Maharashtra
- Manipur
- Meghalaya
- Mizoram
- Nagaland
- Odisha
- Puducherry
- Punjab
- Rajasthan
- Sikkim
- Tamil Nadu
- Telangana
- Tripura
- Uttar Pradesh
- Uttrakhand
- West Bengal
- Medical Education
- Industry
JnJ seeks valuation of up to USD 43 billion in IPO of consumer health unit Kenvue
New Jersey: Johnson & Johnson said on Monday it was seeking a valuation of up to $42.95 billion in the initial public offering of its consumer health unit, Kenvue, at a time when investor appetite for new listings has been muted.
The announcement sets the stage for what is expected to be one of the marquee listings this year and brings the healthcare conglomerate closer to completing its planned spinoff of the business behind Band-Aid bandages and Tylenol medicines.
However, the listing plans come at a challenging time for the IPO market in the United States. New listings have come to a virtual standstill as investors grapple with heightened volatility in a rising interest rate environment.
J&J is offering 151.2 million shares of the common stock of Kenvue priced between $20 and $23 per share, aiming to raise up to $3.5 billion, based on the top end of the proposed range of the listing.
"It's definitely an important deal in restarting the U.S. IPO market," said Matthew Kennedy, senior IPO market strategist at Renaissance Capital.
"We do see other companies waiting in the wings, and a positive reception for Kenvue would certainly encourage them to move forward with their listings."
Kenvue's net sales fell marginally to $14.95 billion in the fiscal year ended Jan. 1.
J&J, Kellogg Co and General Electric Co were among the large U.S. corporations that in recent years have laid out plans to spin off units to simplify their structures and focus on specific money-making areas.
In April, J&J spin-off LTL Management filed for bankruptcy for a second time under a new financing arrangement with J&J. The drugmaker has agreed to pay $8.9 billion, dwarfing its original offer of $2 billion, to settle tens of thousands of lawsuits.
Goldman Sachs and J.P. Morgan are among the underwriters for Kenvue's listing.
Read also: Johnson and Johnson may eye deals that boost eye care, surgical robots businesses: CEO Joaquin Duato
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751