Science magazine publisher Springer Nature has attracted strong demand for its stock market listing, with order books, excluding a so-called greenshoe option, oversubscribed, bookrunner Morgan Stanley said on Friday. The company, which is aiming to be included in Germany's midcap stock index, has set a price range at between 10.50 euros ($12.53) and 14.50 euros.
Majority owner Holtzbrinck has doubled its share order to 200 million euros, Morgan Stanley said. Trading is expected to start on the Frankfurt exchange on May 9. The company, which publishes science magazines Nature and Scientific American, plans to raise 1.2 billion euros through the initial public offering, and to use the bulk of proceeds to cut net debt by a third.