J&J's con­sumer health spin­out Ken­vue lines up a $3B+ IPO, biggest health of­fer­ing since 2018

J&J’s con­sumer health spin­out set the terms for a $3.25 bil­lion IPO on Mon­day, lin­ing up what could be one of the health­care sec­tor’s biggest of­fer­ings of the last sev­er­al years.

Ken­vue has pen­ciled in a $20 to $23 range for its of­fer­ing of more than 151 mil­lion shares, ac­cord­ing to its S-1/A. At the mid­point of that range, Ken­vue’s raise would be the largest US IPO since Ri­v­ian Au­to­mo­tive’s $11.9 bil­lion raise in 2021, ac­cord­ing to Re­nais­sance Cap­i­tal. It would al­so be the largest health­care and life sci­ences raise since Ger­man med­ical de­vice com­pa­ny Siemens Health­i­neer’s $5.1 bil­lion IPO in 2018, Deal­For­ma’s Chris Doko­ma­ji­lar told End­points News. 

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