Hints and tips:
...Just seven companies have raised more than $500mn in an IPO this year, according to Dealogic data, with three — Arm, Kenvue and Birkenstock — raising more than $750mn....
...J&J has been sitting on a significant cash pile after it decided to spin out its consumer health business Kenvue last year, with the share offering generating $13.2bn....
...J&J could not be immediately reached for comment on the Kenvue offering....
...J&J and Kenvue said securities laws prevented them from commenting on the lawsuits or IPO plans....
...Kenvue makes money and is cash generative without debt. Future litigation is a worry, though....
...Next up was the carve-out IPO of Kenvue, the consumer branded business of J&J (think Band-Aids)....
...This month’s offerings include more tech stocks than earlier in the year, when the market was dominated by the $4.3bn spin-off of Kenvue, the consumer brands arm of Johnson & Johnson, which chose NYSE....
International Edition