Leading academic publisher Springer Nature made its stock market debut Friday, one of the few initial public offerings in Frankfurt this year despite the exchange’s strong performance.
The share price topped 24 euros ($26) shortly after trading began, well above the IPO price of 22.50 euros, which valued the group at nearly 4.5 billion euros.
Springer Nature is a major publisher in the fields of research, health and education. Its titles include Nature and Scientific American, and it has around 9,000 employees in 40 countries.
Demand from both German and foreign investors has been strong, according to Bloomberg.
The IPO is for a maximum of some 600 million euros, partly via a capital increase of 200 million euros, and the rest through the sale of existing shares.
The…
