Pan-European lab group Labco hopes to raise €320m gross of new money through an IPO which will also see existing shareholders sell between €120m and €238m of shares. The IPO means an enterprise value of €1.26bn to €1.4bn, valuing forecast 2015 EBITDA at just ten times. Bankers and exiting shareholders have their fingers and legs firmly crossed – Labco’s public offering closes on May 11, the EU deadline given to Greece. We look at the valuation and what Labco plans to do with the money.