Preparations underway for Ottobock's public listing in the fall.
Ottobock Announces Initial Public Offering (IPO) on Frankfurt Stock Exchange
Ottobock, a global leader in prosthetics manufacturing, has announced plans for an Initial Public Offering (IPO) this fall, making it the first German company to do so after the summer break. The move comes as the company capitalizes on the momentum created by recent European IPOs, such as Nobia's planned IPO in Stockholm and SMG Swiss Marketplace Group's listing on the Swiss SIX exchange.
The IPO aims to raise around 1.5 billion euros by selling 25% of the shares. Leading the IPO are BNP Paribas, Deutsche Bank, and Goldman Sachs. An additional 100 million euros will be raised through a capital increase by issuing new shares.
The proceeds from the IPO will be used to settle liabilities from incentive programs and fund future technology investments. The Näder family, the family group that holds the majority of shares in Ottobock, plans to sell existing shares in the IPO.
In March 2024, the family reportedly paid around 1.1 billion euros for this stake, regaining sole ownership and valuing the entire company at 5.5 billion euros. In the first half of the year, Ottobock's revenue grew by 14% to 760 million euros, and the company generated 1.4 billion euros in revenue in 2024. Adjusted Ebitda increased by one-third to 175 million euros in the first half of the year, and the company achieved an adjusted Ebitda of 320 million euros and an adjusted Ebitda margin of 22.4% in 2024.
CEO Oliver Jakobi attributes Ottobock's high valuation to its growth through innovation. The valuation surpasses that of some competitors like Iceland’s Embla, the UK’s Blatchford, and France’s Proteor. Proceeds from the IPO will also be used to repay a loan taken by the owners' holding company.
In other news, the sale of pharmaceutical manufacturer Stada to British private equity firm CapVest occurred in early September. The loan was taken from financial investors KKR, Carlyle, Hayfin, and Macquarie to finance the repurchase of a 20% stake from EQT.
The IPO will take place on the Frankfurt Stock Exchange's regulated market. The Näder family's decision to sell existing shares in the IPO may signal a new chapter for the company, as it continues to innovate and grow in the prosthetics industry.
