Johnson & Johnson aims to raise $3 billion in Kenvue IPO

Johnson & Johnson JNJ expects to raise roughly $3 billion in an initial public offering of its consumer-health unit. In a filing with the Securities and Exchange Commission made public Monday afternoon, Johnson & Johnson said it expects to sell more than 151 million shares in the IPO at a price of $20 to $23, which would raise roughly $3.25 billion at the midpoint price of $21.50. The parent company would retain more than 1.7 billion shares, with the total share count disclosed Monday suggesting an initial enterprise value of $40.1 billion at the midpoint of the range. The Kenvue unit includes brands such as Tylenol,…