BERLIN, April 19 (Reuters) - Laboratory services group
Synlab on Monday set the price range for its planned initial
public offering at 18 euros to 23 euros ($21.54 - $27.52) per
share, implying a total market capitalisation of up to 5 billion
euros.
Synlab said it will offer up to 71.5 million ordinary
shares, leading to a total IPO size of up to 1.48 billion euros.
It said it aimed to raise 400 million euros from the
offering of new shares that will be used to repay part of its
outstanding debt. The rest of will go to shareholders Cinven
, Novo Holdings and the Canadian teacher pension fund
OTPP.
Books will open on April 20, a bookrunner said on Monday,
with the company expecting the offer period to end on April 27
with the first trading day planned on April 30.
The issue is organised by JP Morgan and Goldman
Sachs with the help of Bank of America, Barclays
, BNP Paribas, Deutsche Bank, HSBC
, Jefferies and UniCredit.
($1 = 0.8358 euros)
(Reporting by Riham Alkousaa, editing by Louise Heavens)