PYMNTS.com April 23, 2023
Johnson & Johnson is reportedly readying an investors roadshow to take its commercial healthcare unit public.
According to a Sunday (April 23) Wall Street Journal (WSJ) report, sources familiar with the matter say the company could begin meeting with investors as early as Monday (April 24) as it prepares for an initial public offering (IPO).
Sources tell the WSJ the company hopes to raise at least $3.5 billion at a valuation of around $40 billion for Kenvue, its soon-to-be spun off consumer business, which sells products like Tyleon, Band-Aids and skin-care brands like Aveeno.
As the report notes, Johnson & Johnson’s attempt to take Kenvue public will be a key test for the flagging IPO market. The WSJ cites figures...
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