By Echo Wang
NEW YORK (Reuters) – Johnson & Johnson on Wednesday priced the initial public offering (IPO) of its consumer-health business at the upper end of its target range to raise $3.66 billion, people familiar with the matter said,
Kenvue Inc defied volatile market conditions to price about 166 million shares at $22 per share, the source said, requesting anonymity as these discussions are confidential.
The IPO values Kenvue at about $41 billion.
Kenvue had earlier said it planned to sell 151 million shares at a range of between $20 and $23 per share.
J&J did not immediately respond to a request for comment.
(Reporting by Echo Wang in New York; Editing by Anirban Sen)
