The German prosthetics manufacturer Ottobock SE & Co. KGaA has announced concrete details for its planned initial public offering, targeting proceeds of up to €808 million in what would be Germany's largest stock market debut since early 2024. The Duderstadt-based company revealed on Monday that it will offer shares in a price range of €62 to €66, valuing the medical technology firm between €4.0 billion and €4.2 billion. Trading is scheduled to commence on the Frankfurt Stock Exchange on October 9, 2025, following an offer period running from September 30 to October 7.
Ottobock's offering consists of approximately 1.6 million new shares and about 9.1 million existing shares from current owner Näder Holding, plus an additional 1.6 million shares under a potential greenshoe option. The capital increase through new shares is expected to generate gross proceeds of approximately €100 million, which the company plans to use for strengthening its financial position and potential acquisitions. The remaining proceeds will flow to the Näder family, who will retain more than 80% ownership post-IPO.
This marks Ottobock's second attempt at going public after canceling a previous effort in 2022 due to unfavorable market conditions. The accelerated timeline—moving from "by the end of 2025" to an October 9 listing—comes despite a challenging environment for IPOs in Germany this year. Several other companies, including pharmaceutical distributor Stada and medical technology firm Brainlab, have recently canceled or postponed their public offerings, making Ottobock's successful placement particularly significant for the German market.
The company has secured substantial investor interest ahead of the offering, with Hamburg billionaire Klaus Michael Kühne committing to purchase up to €125 million worth of shares, representing nearly 3% of the offering. CEO Oliver Jakobi stated that "the proceeds from the planned IPO give us additional financial flexibility to invest specifically in new technologies, continue setting new standards in human bionics, and seize new strategic opportunities." The Näder family, who fully regained ownership from Swedish financial investor EQT in 2024, may use portions of their proceeds to repay expensive loans used to finance that buyback.
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