Deutsche Börse has announced that the share subscription for the IPO of Springer Nature AG & Co. KGaA (ISIN: DE000SPG1003) via the Frankfurt Stock Exchange was launched today and is expected to continue until 8 May.
The first trading day for Spring Nature in the Prime Standard, the segment with the highest transparency standards, is scheduled for 9 May. The price range for the offered shares has been set at €10.50 to €14.50 per share. The total issue volume will be up to €1.6 billion.
J.P Morgan and Morgan Stanley are joint global coordinators and joint bookrunners for the IPO. BofA Merrill Lynch, BNP Paribas, Credit Suisse, Goldman Sachs International and Société Générale are also joint bookrunners.
The launch of the share subscription involves Deutsche Börse’s subscription function DirectPlace, which enables companies to tap into additional investor groups, such as family offices, asset managers and retail investors, prior to the IPO. This gives private investors the opportunity to place buy orders through their custodian bank during the subscription period.
The academic, educational and professional publisher Springer Nature generated revenue of €1.64 billion and an adjusted EBITDA of €551 million in 2017. It is based in Berlin and employs a staff of around 13,000.