(Bloomberg) -- Springer Nature, the private equity-backed academic publisher, is aiming for a valuation as high as €4.7 billion ($5.2 billion) in its initial public offering.
The company and its backer, BC Partners, are offering up to 23.8 million shares at a price range of €21.00 to €23.50, according to a statement on Monday. The deal could raise as much as €536 million, including €200 million in new equity.
Holtzbrinck Publishing Group, which holds a 53% stake in the company, is not selling stock through the IPO.
Trading in the company’s stock is expected to begin on the Frankfurt Stock Exchange on Oct. 4.
BC Partners can sell as many as 3.6 million additional shares if there’s enough demand, which would increase the value of the offering to €616 million at the high end of the price range, according to a term sheet seen by Bloomberg News
Europe’s equity capital markets saw a flurry of initial share-sale activity in the first half of the year before market volatility and the summer break put a pause on new deals.
The bulk of Europe’s IPOS this year were completed in the first five months, according to data compiled by Bloomberg. Bankers expect fewer first-time share sales in the second half of the year, with the looming US presidential election making for a narrower listing window.
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