Private Equity Shouldn't Be Greedy in IPOs, BC Partners Says [Yahoo! Finance]
RELX PLC PLC American Depositary Shares (Each representing One Ordinary Share) (RELX)
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Source: Yahoo! Finance
Most Read from Bloomberg “As private equity owners, we need to make sure that we leave some runway and we don't try and squeeze every last dollar at IPO,” said Nikos Stathopoulos, Europe chairman, in an interview. His comments come after BC Partners-backed Springer Nature AG & Co KGaA debuted on the Frankfurt Stock Exchange earlier this month, in Europe's first sizable initial public offering of the autumn season. Supported by the price, the transaction drew demand for more than six times the stock on offer, Stathopoulos said. “Part of the reason why the Springer Nature IPO was successful is that we were not greedy,” said Stathopoulos. “This is important for private equity-backed IPOs because sometimes they get a mixed reception.” The deal was priced just above the midpoint of its marketed range, raising €522 million for Springer Nature and its private equity backer at a valuation of €4.5 billion — far from the €7 billion market cap mooted before summer. Shares in the pub
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