Monday Markets Mail #KW 16

on 19th of April 2021

Lab chain Synlab targets around 5 billion euros stock market value

© Adobe Stocks
© Adobe Stocks
  • Depending on demand, up to 71.5 million shares are to be sold at a price between 18 and 23 euros
  • Including debt, Synlab is valued at up to 6.9 billion euros
  • Synlab had emerged from the merger of the laboratory service providers Labco and Synlab
Munich (APA) - The IPO of Europe's largest laboratory chain Synlab will be worth billions. Depending on demand, up to 71.5 million shares are to be sold at a price of between 18 and 23 euros, the company announced. The issue volume thus totals up to 1.48 billion euros. This would give Synlab a total market capitalization of up to 5 billion euros, with up to 32 percent of the shares in free float.
Including debt, Synlab is valued at up to 6.9 billion euros. The German group itself will receive a total of 400 million euros from the IPO, which will be used to repay debts. The rest will go to the existing shareholders, the financial investor Cinven, Novo Holdings and the Canadian teachers' pension fund OTPP. Synlab shares can be subscribed for from Monday until April 27, and are to be traded on April 30. They are to be traded for the first time on the Frankfurt Stock Exchange on April 30. The issue is being organized by investment banks Goldman Sachs and JP Morgan.
Synlab was formed in 2015 from the merger of the two laboratory service providers Labco and Synlab. The Munich-based company currently employs around 20,000 people. According to its own information, it is the largest European provider of clinical laboratory and medical diagnostic services in terms of sales and tests performed.