Johnson & Johnson’s Kenvue IPO to command valuation of more than $40 billion in biggest public debut since 2021

A unit of Johnson & Johnson is headed for the biggest initial public offering in more than a year after its shares were priced near the top of the expected range Wednesday evening.

Johnson & Johnson JNJ will charge $22 a share in the IPO for Kenvue, the companies said in a statement Wednesday evening. Kenvue, which is expected to begin trading Thursday morning on the New York Stock Exchange, under the ticker “KVUE,” will hold a wealth of consumer brands that includes Band-Aid, Tylenol and Listerine.

Johnson…