Education publisher McGraw Hill's IPO is priced at $17, below the issuance range, aiming to raise $415 million.

Education publisher and digital learning tool provider McGraw Hill will be listed on the New York Stock Exchange on Thursday, Eastern Time, at a price of $17 per share, issuing 24.4 million shares and raising $415 million, which is lower than the previously announced offering range of $19 to $22. At this price, the company's fully diluted market value is $3.3 billion. McGraw Hill is a global leader in educational information solutions, with business covering from K12 (from kindergarten to 12th grade) to higher education, and also involved in vocational education. The company serves approximately 60 million learners and educators annually, ranking among the top two in the US K12 market with services covering about 99% of US public K12 districts; and also ranking among the top two in the US higher education market in the field of digital and print learning solutions, with services covering about 82% of US higher education institutions. McGraw Hill's stock symbol is "MH". Goldman Sachs, National Bank Capital Markets, JPMorgan, Macquarie Capital, Morgan Stanley, Deutsche Bank, and UBS Investment Bank are the joint bookrunners for this offering.