CEO: Ottobock IPO Won’t Happen Before 2020
January 08, 2019
Philipp Schulte-Noelle, CEO, Ottobock, Duderstadt, Germany, told the German newspaper Handelsblatt that the company's IPO and potential stock market listing will not take place before 2020.
"An initial public listing will not happen before 2020. We are taking our time for a sustainable equity story," Schulte-Noelle said.
Hans Georg Nader, former Ottobock president and CEO, sold a 20 percent stake of the company to a private equity firm in 2017, the first time there has been a shareholder outside the family since the company was founded in 1919. According to Reuters, the sale allowed for an independent valuation before the company began seeking investors.