Education Firm McGraw Hill Flat After $414.6 Million IPO (1)

McGraw Hill Inc.shares were flat after the company raised $414.6 million in its US initial public offering.

Shares of the education tech firm closed at $17 each on Thursday in New York, the same as the IPO price. The offering of 24.39 million shares was marketed in a range of $19 to $22 each.

The trading gives the Columbus, Ohio-based firm a market value of $3.2 billion based on the outstanding shares listed in its filings.

Platinum Equity bought the business from Apollo Global Management Inc. in 2021 for $4.7 billion, according to the filings. Platinum will control ...