BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Springer Nature AG & Co. KGaA announced the price range for the planned initial public offering (IPO) has been set between 10.50 and 14.50 euros per share. The offer period will begin on April 26, 2018, and is expected to end on May 8, 2018. The period during which investors can place orders via the subscription functionality of the Frankfurt Stock Exchange will commence on April 27, 2018 and end on May 8, 2018. Trading in the shares is expected to commence on May 9, 2018.
The IPO's total offering volume could amount to up to 1.6 billion euros, if over-allotments are made in full. The targeted gross proceeds are approximately 1.2 billion euros.
Springer Nature intends to use the entire primary proceeds to reduce the net leverage ratio to approximately 3.5x 2017 adjusted EBITDA.
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