Final offer price for Springer Nature shares set at €22.50 per share

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PRESS RELEASE
 
Final offer price for Springer Nature shares set at €22.50 per share

• Placement of 26,650,795 shares of Springer Nature AG & Co. KGaA in total, corresponding to a total offer size of around €600 million
  • Placement of 8,888,889 newly issued shares, amounting to gross proceeds of €200 million to further reduce the company’s debt
  • Secondary placement of 14,285,716 shares and 3,476,190 over-allotment shares from the holdings of BC Partners
• Market capitalisation of around €4.5 billion; expected free float of around 13.4% (assuming full exercise of the greenshoe option)
• Holtzbrinck Publishing Group will indirectly hold around 50.6%, BC Partners will indirectly hold around 36.0% of the Company’s shares after the offering (assuming full exercise of the greenshoe option)
• First day of trading planned for 4 October 2024

Berlin, 01 October 2024

Today, the final offer price for the shares of Springer Nature AG & Co. KGaA (the “Company” or “Springer Nature”), a leading global research, health and education publisher, was set in the upper half of the price range at €22.50 per share, which corresponds to a market capitalisation of Springer Nature of around €4.5 billion.

In total, 26,650,795 shares are being placed with investors, thereof 8,888,889 new shares (the “New Shares”), 14,285,716 existing shares from the holdings of funds advised by BC Partners (“BC Partners”) and 3,476,190 additional existing shares are being placed from the holdings of BC Partners in connection with over-allotments.

Entities controlled by the Holtzbrinck Publishing Group (“HPG”) and BC Partners will remain key indirect shareholders after the IPO. Springer Nature will receive gross proceeds of €200 million from the sale of the New Shares. The total offer size is expected to amount to around €600 million (assuming full exercise of the greenshoe option).

Frank Vrancken Peeters, CEO of Springer Nature, said: “The interest shown in our shares from a global investor base is a clear vote of confidence in our company and mission. We look forward to continuing to deliver our growth strategy and accelerating solutions to the world's urgent challenges.”

Following the completion of the offering (assuming full exercise of the greenshoe option), the free float is expected to be around 13.4%. The two existing shareholders HPG and BC Partners will hold around 50.6% and around 36.0% of the shares in the Company, respectively.

Retail investors that placed orders with syndicate banks were allocated approximately 1.6% of the total placement volume, amounting to 437,166 shares in the aggregate. All orders placed by retail investors with syndicate banks were allocated according to the following allocation key: Up to an amount of 100 shares, each order received a full allocation. Higher orders were allocated approximately 25% for the shares exceeding this amount. The “Principles for the Allotment of Share Issues to Private Investors“ (Grundsätze für die Zuteilung von Aktienemissionen an Privatanleger) issued by the German Commission of Stock Exchange Experts (Börsensachverständigenkommission) of the German Federal Ministry of Finance (Bundesministerium der Finanzen) were followed and the allocation to retail investors in connection with the offering followed the same criteria for all syndicate banks and their affiliated institutions.

The shares of Springer Nature are expected to commence trading on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) under the ticker symbol SPG on 4 October 2024. The German securities code (WKN) for the shares is SPG100 and the international securities identification number (ISIN) is DE000SPG1003. The settlement and closing of the offering are planned for 7 October 2024.

Deutsche Bank, J.P. Morgan and Morgan Stanley are acting as Joint Global Coordinators. BNP PARIBAS, COMMERZBANK in cooperation with ODDO BHF, Goldman Sachs Bank Europe SE and UniCredit have been mandated as Joint Bookrunners and Crédit Agricole CIB and ING as Co-Bookrunners.
Further information on the IPO is available on Springer Nature’s IPO website https://ir.springernature.com/.
 

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Contact
Cornelius Rahn | Springer Nature | Communications and Corporate Affairs
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Board: Franciscus Vrancken Peeters (Chairman), Marc Spenlé, Alexandra Dambeck, Rachel Jacobs, Harsh Jegadeesan, Carolyn Honor
 
 
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