April 25, 2018 / 8:01 PM / a month ago

Springer Nature sets price range for Frankfurt flotation

FRANKFURT, April 25 (Reuters) - Springer Nature, the publisher of science magazines Nature and Scientific American, is offering shares worth up to 1.6 billion euros ($1.95 billion) in its planned initial public offering (IPO), it said on Wednesday.

The company has set a price range of 10.50-14.50 euros a share, with new shares worth 1.2 billion euros being sold and a free float of up to 44.8 percent. Trading is expected to start on the Frankfurt exchange on May 9.

Buyout group BC Partners will sell some of its shares in the listing while majority owner Holtzbrinck will acquire shares worth 100 million euros in the offering. ($1 = 0.8216 euros) (Reporting by Arno Schuetze; Editing by Adrian Croft)

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