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DewDiligence

05/04/23 11:50 AM

#27927 RE: DewDiligence #27693

JNJ consumer spinoff, Kenvue IPOs @$22.00—starts_trading_today_as KVUE:

https://finance.yahoo.com/news/kenvue-begin-trading-york-stock-132500217.html

At the IPO price, KVUE’s market cap is ~$41B. Following the IPO, JNJ still owns about 90% of KVUE and plans to distribute the remainder to JNJ shareholders at some point.

Caution: KVUE bears 100% of JNJ’s talc liability outside of the US and Canada.