Encyclopaedia Britannica is reportedly looking to fetch a valuation of around US$1 billion through its initial public offering (IPO).
The Chicago-based education technology firm is currently working with advertisers and could launch the offering as soon as June, as per Bloomberg-cited sources.
News broke of 250-year-old Encyclopaedia Britannica’s intention to float in January, when it unveiled a confidential filing for an IPO in the United States.
How many shares would be sold and their price range had not been determined at the time, with such details still uncertain, according to Bloomberg’s sources.
Such a listing would come after the firm has looked to go public for at least two years.
It had been exploring an IPO in 2022, reports said at the time, which was supposedly set to be preceded by a private fundraising round.