BERLIN (Reuters) -German prosthetics maker Ottobock plans to go public between late September and mid-October, eying a valuation of more than 6 billion euros ($7 billion), the Handelsblatt business
Prosthetics maker Ottobock eyes over 6 billion euro valuation in possible IPO...
Ottobock's IPO Plans and Financial Performance
FRANKFURT/BERLIN (Reuters) -German prosthetics maker Ottobock is eying a valuation of more than 6 billion euros ($7 billion) as it considers a possible initial public offering between late September and mid-October, a person familiar with the matter told Reuters.
Valuation and Share Sale Details
Owner and Chairman Hans Georg Naeder and his family will likely put 25% to 30% of their shares up for sale in the IPO, but divesting in steps over time is also an option, the source said.
Financial Performance Overview
Handelsblatt first reported the potential valuation and possible listing structure on Thursday. The newspaper quoted Ottobock CEO Oliver Jakobi as saying the company is ready for a potential IPO but that he would not elaborate further.
Market Context and Previous Plans
A company spokesperson said there had been no final decision yet and declined further comment.
Separately, Ottobock said first-half adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 30.5% to 180 million euros, on sales of 801 million euros, helped by product launches and acquisitions.
Financial advisers have viewed Ottobock as an IPO candidate during the second half, alongside generic drugmaker Stada, Deutsche Boerse's research and technology unit ISS Stoxx, and classifieds business Swiss Marketplace Group, Reuters reported last month.
Naeder put earlier plans to take Ottobock public on hold in 2022 because of choppy financial markets following Russia's invasion of Ukraine.
($1 = 0.8581 euros)
(Reporting by Emma-Victoria Farr, writing by Rachel More and Ludwig Burger; editing by Matthias Williams, Kirsten Donovan)
