U.S. publisher McGraw Hill, backed by investment firm Platinum Equity, said on Wednesday it had raised US$414.63-million in its initial public offering in the United States.
The company sold 24,390,000 shares, priced at US$17 each, below its marketed range of US$19 to US$22. The offering valued McGraw at US$3.25-billion.
The IPO market is gaining momentum on the back of a rally in equities and some stellar debuts in recent months.
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Private equity sponsors, who have been sitting on a massive backlog of portfolio companies waiting to go public, are looking to capitalize on this window.
McGraw Hill will debut on the New York Stock Exchange on Thursday, nearly 13 years after it was taken private by Apollo. The private-equity giant had also attempted to re-list the company in 2015.