Textbook publisher McGraw Hill targets $4.2 billion valuation in US IPO

(Reuters) -U.S. publisher McGraw Hill is targeting a valuation of $4.2 billion in its IPO, the company said on Monday, adding to a recent line up of public market hopefuls that are looking to tap an improvement in investor sentiment.

Activity in the U.S. IPO market has seen an uplift in recent months as the trade policy confusion settles with investors flocking to new listings of companies like stablecoin issuer Circle Internet Group and Chime Financial.

Columbus, Ohio-based McGraw Hill is looking to raise up to $537 million from 24.39 million shares priced between $19 and $22 apiece.

McGraw Hill is one of the most recognized names in the publishing industry, and has a global sales team of nearly 1,500.

The company will aim to trade on the NYSE under the symbol "MH". Goldman Sachs is the lead underwriter for the IPO.

(Reporting by Ateev Bhandari and Pritam Biswas in Bengaluru; Editing by Harikrishnan Nair)