McGraw-Hill Education Said Planning IPO (APO)

McGraw-Hill Education is said to have hired underwriters as the company plans to conduct an IPO.

According to Reuters, McGraw-Hill Education's owner, Apollo Global Management (NYSE: APO), has tapped Credit Suisse Group AG and Morgan Stanley to lead the offering.

In total, McGraw-Hill Education is expected to be valued at about $5 to $6 billion following the offering, including debt.

The IPO is expected to launch at the end of the year following the end of back-to-school season, when the company makes the bulk of its money.

Apollo Global acquired the business from McGraw-Hill Companies in March 2013 for about $2.4 billion.

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