(Bloomberg) -- Academic publisher Springer Nature’s initial public offering is set to raise around €522 million ($583 million) in what could be Germany’s second-biggest IPO this year, adding to the rebound in Europe’s equity capital markets.
Springer Nature is likely to price its shares at €22.50, just above the midpoint of its €21 to €23.50 targeted range, according to a term sheet seen by Bloomberg News. The deal would value the publisher of science journal Nature at around €4.5 billion ($5 billion).
A successful debut would come as a boost to Europe’s recovering IPO market, which has seen more than $16 billion raised this year, around 40% up from the same period last year.
Others are trying to complete their IPOs before the market slows down for the US presidential election, including Polish grocery chain Zabka Polska SA and Europastry SA.
In the UK, sports nutrition group Applied Nutrition Ltd said Monday it was considering listing its shares on the London Stock Exchange.
(Updates with expected proceeds, context. An earlier version of this story corrected the pricing stage in headline)
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