FRANKFURT/MUNICH, Feb 23 (Reuters) - SpringerNature, the publisher of science magazines Nature and Scientific American, is accelerating plans for a stock market listing which may value it at more than 7 billion euros ($8.6 billion) including debt, people close to the matter said.
The company is planning to announce its initial public offering (IPO) in May, with a Frankfurt listing slated to take place four weeks later, they said, adding that originally plans had been for a launch in June.
Following recent market volatility, some IPO hopefuls have sped up listing plans to avoid being tripped up by wobbly markets.
“Everybody is trying to accelerate their plans now,” one of the sources said. Among other, Deutsche Bank’s DWS asset management unit has brought its IPO forward by several weeks.
The SpringerNature joint venture is 53-percent owned by German publisher Holtzbrinck, with buyout group BC Partners holding the rest.
The group’s owners have appointed bookrunners including Goldman Sachs and BNP Paribas to help with the listing, alongside global coordinators JP Morgan and Morgan Stanley.
$1 = 0.8129 euros Editing by Maria Sheahan