BC-backed Springer Nature pulls IPO

The company was expected to float on the Frankfurt Stock Exchange today after it set a price range of €10.5-14.5 per share, corresponding to an enterprise value of up to €3.6bn.

However, due to weaker than expected demand, the IPO was pricing at the bottom of this range, according to press reports.

Holtzbrinck announced on Saturday 5 May that it would increase its own order from €100m to €200m, in a bid to boost demand.

Springer Nature and its shareholders will continue to closely evaluate the market environment and opportunities regarding an IPO of Springer Nature in the future, according to a joint statement.

BC owns a 47% stake in the business alongside the German publisher after the merger of its portfolio company Springer Science+Business Media with Holtzbrinck's Macmillan Science and Education in January 2015. 

Springer generated EBITDA of €521m from revenues of €1.64bn in 2017. The company publishes scientific, technical and medical titles in English, German and Dutch. It also supplies scientific and academic books and journals to customers in 120 countries worldwide. The company is headquartered in Berlin and employs 13,000 people.

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