Let’s go over all of the details investors need to know about Kenvue going public today below!
KVUE Stock Public Launch Details
- Shares of Kenvue stock will trade on the New York Stock Exchange under the KVUE ticker.
- The company’s shares will make their public debut today via an initial public offering ( ).
- The pricing of this IPO has the company raising close to $3.8 billion.
- That will come from the listing of 172.8 million shares of KVUE stock at $22 apiece.
- This would also see the Johnson & Johnson spinoff valued at $41 billion.
- The company’s IPO plan originally had it expecting to sell 151 million shares for between $20 and $23 per share.
- While Kenvue is going public, Johnson & Johnson will still hold a majority of shares.
- Once the IPO is complete, Johnson & Johnson will control 91% of KVUE stock.
- Kenvue is the largest IPO since Rivian (NASDAQ:RIVN) went public in November 2021.
- The spinoff is part of a restructuring plan announced by JNJ in 2021 to streamline its business.
Shares of KVUE stock haven’t started trading just yet, but investors will want to keep an eye out to see how Kenvue moves during its public debut.
Investors looking for more of the most recent stock market news will want to keep reading!
We’ve got all of the latest stock market coverage investors need for Thursday! A few examples of that include why gold prices are up today, a weak price target for Palantir (NYSE:PLTR) stock and a new round of Shopify (NYSE:SHOP) layoffs. You can catch up on all of this news at the following links!
More Thursday Stock Market News
- Why Are Gold Prices Up Today?
- PLTR Stock Alert: Is Palantir Really Worth Just $5?
- Shopify Layoffs 2023: What to Know About the Latest SHOP Job Cuts
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.