Australian Clinical Labs terms: $408.6m IPO at $4 a share

Australian Clinical Labs terms: $408.6m IPO at $4 a share
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Stockbrokers Bank of America and Goldman Sachs have widened the buyer search for IPO hopeful Australian Clinical Labs.
The brokers’ equities desks sent terms to fund managers on Wednesday morning, and said they would be back with an institutional bookbuild to sell shares and lock in the listing on Tuesday April 27.
Street Talk.  
Erin Jonasson
The term sheet said Australian Clinical Labs would seek to raise $408.6 million at $4 a share.
The price represented 15-times forecast profit for the 2021 calendar year, 9.9-times EBITDA on an AASB 117 basis and implied a 3.4 per cent dividend yield.

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