German laboratory services provider Synlab wants to go public on the Frankfurt Stock Exchange. (picture alliance / dpa)
German laboratory services provider Synlab wants to go public on the Frankfurt Stock Exchange. The listing in the Prime Standard segment should take place in the second quarter, the company announced in Munich on Wednesday. The exact date depends on the development of the market environment. Synlab is aiming to raise 400 million euros from the IPO. The money is to be used to reduce debt, among other things. The offering will include newly issued shares from a capital increase as well as shares from the holdings of existing shareholders.
As early as mid-February, there was market speculation that the current owner, the private equity firm Cinven, would float the company after Easter. The reason for this is the high demand for healthcare providers among investors as a result of the coronavirus pandemic.
Synlab had emerged 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 figures, and had sales of more than 2.6 billion euros in 2020.
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