May 4, 2018 / 4:19 PM / 17 days ago

Price range set for Springer Nature's Frankfurt IPO

BERLIN, May 4 (Reuters) - The price range for science magazine publisher Springer Nature’s listing on the Frankfurt stock exchange will be set at between 10.50 euros ($12.53) and 14.50 euros, bookrunner Morgan Stanley said on Friday.

The books are oversubscribed, excluding the greenshoe option, and German publisher Holtzbrinck has increased its order to 200 million euros, Morgan Stanley said.

Springer Nature plans to raise 1.2 billion euros through the IPO, with the bulk of proceeds to be used to cut net debt by a third. ($1 = 0.8379 euros) (Reporting by Andreas Cremer; Editing by Susan Fenton)

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