J&J’s Kenvue Raises $3.8 Billion in Largest US IPO Since 2021

Johnson & Johnson’s consumer health business Kenvue Inc. raised $3.8 billion in an upsized initial public offering that is the biggest US listing since 2021.

Kenvue’s IPO price of $22 per share, which confirmed an earlier Bloomberg News report, is in the top half of the company’s marketed range of $20 to $23 each.

The company also expanded the number of shares it’s selling to 172.8 million from 151 million, according to a press release, giving Kenvue a market value of more than $41 billion.

The listing follows the slowest start to a year for US IPOs ...