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

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.

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.