May 8, 2018 / 3:37 PM / 6 months ago

Springer Nature cancels Frankfurt stock market listing

FRANKFURT (Reuters) - Springer Nature, the publisher of science magazines Nature and Scientific American, has cancelled the 3.2 billion euros ($3.8 bln) stock market flotation planned for Wednesday due to weak investor demand.

“Springer Nature and its shareholders will continue to closely evaluate the market environment in general and opportunities regarding an IPO of Springer Nature in the future,” the company said in a statement.

Earlier on Tuesday, the bookrunners on the deal had guided investors to expect the deal to price at the low end of the 10.50 euro - 14.50 euro offer range.

Reporting by Arno Schuetze; Editing by Edward Taylor

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