Ottobock will list an initial public offering (IPO) on Germany’s Frankfort Stock Exchange on October 9, the company said in a press release. It expects a market valuation of up to $4.9 billion.
Up to 12.35 million shares will be offered at a price range of 62-66 euros per share (about $72-$77), which would value the group at 4 billion-4.2 billion euros ($4.7 billion-$4.9 billion), raising 766 million-808 million euros for the company owned by the Naeder family. The offer period will run September 30-October 7.
Ottobock would receive 100 million euros, with the remainder going to the Naeder family, which will continue to hold more than 80 percent of the shares. German billionaire Klaus Michael Kuehne and a fund run by the US asset manager Capital Group will be cornerstone investors, the company said.
In August, Ottobock reported a 30 percent increase in adjusted first-half core profit to 180 million euros on sales of 801 million euros, helped by product launches and acquisitions.
