Thibaut Mongon, CEO and Paul Ruh CFO of Kenvue Inc. a Johnson & Johnson’s consumer-health business, pose together during the company’s IPO at the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023.Brendan McDermid | ReutersJohnson & Johnson’s consumer health spinoff Kenvue jumped 16% in its market debut on the New York Stock Exchange Thursday, marking the biggest U.S. IPO in more than a year. The new company opened at $25.53 per share after originally pricing its IPO at $22 Wednesday night, toward the high end of its target range.related investing newsKenvue sold 172.8 million shares in an upsized deal that raised about $3.8 billion and valued the company at roughly $41 billion. At its opening price, Kenvue had an implied valuation of nearly $48 billion. The company, which trades under the ticker “KVUE,” holds a wealth of widely known consumer brands such as Band-Aid, Tylenol, Listerine, Neutrogena, Aveeno and J&J’s namesake baby powder. “Millions of consumers around the world this morning wake up with a Kenvue product in their home,” CEO Thibaut Mongon, told CNBC’s “Squawk on the Street” Thursday morning ahead of the stock’s debut.Mongon previously served as J&J’s executive vice president and worldwide chair of consumer health. He will sit on Kenvue’s board.Thibaut Mongon, CEO of Kenvue Inc. a Johnson & Johnson’s consumer-health business, rings the opening bell to celebrate it’s IPO at the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2023. Brendan Mcdermid | ReutersKenvue’s IPO marks the largest restructuring move in J& …
