German laboratories group Synlab targets post-Easter IPO -sources

According to people close to the matter, Synlab aims to launch its €6 billion ($7.3 billion) stock market listing after Easter, as This is Money.

While Synlab, owned by private equity group Cinven, could be valued at around €6 billion, including debt, in an initial public offering, investors will likely subtract the COVID-19 effect from their estimates for future earnings.

On the back of strong demand for Synlab's COVID-19 testing capacities, the group has said it expects 2020 earnings before interest, tax, depreciation and amortisation rise to €550 million.

According to Fitch, about a fifth of Synlab's sales are currently COVID-19 related.