McGraw-Hill Education Inc. is waiting until the second half of the year to move ahead with its initial public offering because of market volatility and poor stock performance by publicly traded competitors, people familiar with the matter said.

The company previously planned to go public early this year, said the people who asked not to be identified discussing private information.

The education publisher backed by Apollo Global Management LLC had filed its initial prospectus in September with a $100 million placeholder, an amount used to calculate registration fees that may change.

The company’s closest publicly held competitor, Houghton Mifflin Harcourt Co., had surged 89 percent from its 2013 IPO through the time when McGraw-Hill Education filed to go public. Houghton Mifflin’s stock has tumbled more than 23 percent since then, a decrease that helped support McGraw-Hill Education’s decision to delay its IPO, the people said.

Meanwhile, equity markets whipsawed, sending the Chicago Board Options SPX Volatility Index, which gauges investor nervousness, above the unsettling level of 20 in 11 of each of the weeks since McGraw-Hill Education first filed to go public.

McGraw-Hill Cos. sold McGraw-Hill Education to Apollo in 2013 for about $2.4 billion. Following the IPO, Apollo will continue to control a majority of the company, regulatory filings show.

New York-based McGraw-Hill Education plans to use the symbol MHED when it goes public on the New York Stock Exchange. Credit Suisse Group AG, Morgan Stanley, BMO Capital Markets, Goldman Sachs Group Inc. and Barclays Plc are leading the offering.

A spokeswoman for McGraw-Hill Education declined to comment. Charles Zehren, a spokesman for Apollo, did not respond to e-mails seeking comment.

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