BERLIN (Reuters) – German academic research publisher Springer Nature plans to list on the Frankfurt Stock Exchange in an initial public offering that could be completed by the end of 2024, the company said in a statement on Thursday.
The offer is intended to consist of a 200 million euro capital increase and a sale of existing shares, it added.
The company also intends to pay a dividend of 25 million euros ($27.5 million) for this year, and thereafter an annual dividend of around 50% of annual adjusted net income.
Reuters previously reported a deal could value the publisher of science journal Nature and Scientific American at up to 9 billion euros ($10 billion) including debt.
Shareholders Holtzbrinck Publishing Group and BC Partners own 53% and 47% stakes, respectively.
The primary proceeds from the listing are intended to further reduce debt and optimise the company’s financing structure, according to the term sheet, which listed the bookrunners as BNP Paribas, Commerzbank, Goldman Sachs and UniCredit.
Springer Nature planned an IPO in 2020 but the COVID-19 pandemic forced it to postpone.
In 2023, it reported group revenues of 1.85 billion euros and adjusted operating profit of 511 million euros.
($1 = 0.9078 euros)
(Reporting by Rachel More, editing by Thomas Seythal and Friederike Heine)
