Encyclopaedia Britannica, the publisher of the Britannica Encyclopedia and Merriam-Webster dictionaries, is seeking a valuation of $1 billion in its initial public offering (IPO). Bloomberg reported this, citing sources familiar with the matter.
In January, Encyclopaedia Britannica announced that it had confidentially filed for an IPO. The company is already working with several organizations regarding a possible listing. Sources suggest that the IPO could take place as early as June of this year. However, the size and terms of the offering have not yet been determined.
Encyclopaedia Britannica was founded over 250 years ago. According to the company’s website, it is the oldest general-purpose encyclopedia in the English language. It serves over 150 million students annually.
Participating in the IPO provides private investors with the opportunity to purchase company shares on the primary market and balance their portfolios with attractive offerings.