Kenvue Inc Announces 151M Share IPO at $20-$23/sh

Kenvue Inc (KVUE) has filed for 151,204,000 share IPO at $20-$23 per share.

Upon completion of this offering, Johnson & Johnson will continue to own 91.9% of the voting power of shares of common stock eligible to vote in the election of directors (or 90.8% if the underwriters exercise in full their option to purchase additional shares of common stock to cover over-allotments). As a result, KVUE will be a “controlled company” as defined under the corporate governance rules of the NYSE.