Springer Nature could launch IPO as soon as next week, sources say
By Emma-Victoria Farr
FRANKFURT, Sept 3 (Reuters) -German academic research publisher Springer Nature is planning to file documents next week announcing its listing plans, kicking off the European initial public offering (IPO) market for autumn, three people familiar with the matter told Reuters.
The company is likely to set out its intention to float on the Frankfurt Stock Exchange as soon as next week, the people said, speaking on condition of anonymity.
Reuters previously reported a deal could value the publisher of science journal Nature and Scientific American at up to 9 billion euros ($10 billion) including debt.
Springer Nature held meetings with investors last week and may opt for a smaller offering than originally planned, the people said.
Springer Nature's IPO plans will be watched closely as a string of companies plan listings in Europe, after other new offerings this year from Swiss skincare firm Galderma GALD.S and private equity firm CVC Capital Partners CVC.AS made gains for investors.
Shareholders Holtzbrinck Publishing Group and BC Partners own 53% and 47% stakes respectively.
The company may also decide against an IPO if markets are not conducive and volatility increases, the people said.
Springer Nature and BC Partners declined to comment. A spokesperson for Holtzbrinck was not immediately available for comment.
Springer Nature planned an IPO in 2020 but the COVID-19 pandemic forced it to postpone. Its financial leverage ratio has been reduced to 2.9 times in recent years, from 4.6 times in 2019, according to the company's annual report.
Reuters reported in February that BC Partners was in the early stages of studying options for its stake in Springer Nature, including a potential IPO of the business.
The company's peers include Dutch academic publisher Elsevier, owned by RELX REL.L, and research publisher Taylor & Francis, owned by Informa INF.L. Springer Nature publishes around 14,000 specialist books and 3,000 specialist journals.
Springer Nature was established in 2015, following the merger of Macmillan Science & Education and Springer Science + Business Media. It has headquarters in Berlin and operates research, education and health divisions, with over 9,000 employees in more than 40 countries.
($1 = 0.9038 euros)
Reporting by Emma-Victoria Farr; Editing by Anousha Sakoui and Mark Potter
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