1Sem.·

Ottobock: Germany's largest IPO in 2025 - details & risks

- The IPO price was set at € 66/share, based on an offer of ~12.2 million shares.

- The proceeds amount to ~€808m, of which ~€100m will flow into the company. The remainder will go to Näder Holding.

- The free float will be around 19%, while the Näder family will largely retain control.

- Ottobock intends to use the proceeds for investments, acquisitions and growth.

- Sales and adjusted EBITDA increased significantly in the first half of 2025: sales of € 666 → 760 million, EBITDA € 132 → 175 million.

- Prior to the IPO, institutional investors secured commitments to participate (e.g. Capital Group).

- Ottobock is admitted to the Prime Standard.

- The IPO is seen as a signal that the German capital market is once again becoming more attractive for medical technology.

Opportunities and risks:

Access to capital for expansion & innovation

Signal effect for further IPOs in the medical/technology segment

- Large outflows to the holding company (not to the operating business)

- Price volatility possible in early weeks

- Outlook and implementation of investment plans must be convincing

4 Commentaires

Staatsmann@Staatsmann

1Sem.

Honestly:
I've never heard of the company and I'm not very familiar with the MedTech sector.

Apparently they deal with prostheses, orthoses and the like, so it's definitely an interesting market.
But is this really a market worth billions?

I'm quite surprised.

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Julia@Quasar

1Sem.

@Staatsmann A justified thought. On the other hand, what is true now does not necessarily have to remain so in the future. If you consider the possible integration of AI in prostheses etc. and what might be possible with it, the topic could become quite interesting. Especially as they appear to be largely unrivaled in this field (at least at present).

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ytkhunter@ytkhunter

1Sem.

@Staatsmann Orthopaedic technician here (one who builds prostheses)
It really is a market worth billions. In terms of product line and development, Ottobock has been the undisputed leader since the 2000s. Of course, you shouldn't forget that this area of medtech very quickly generates billions in sales if, for example, only the warranty extension on an elbow costs €30k.
I made my own purchase yesterday.

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Staatsmann@Staatsmann

1Sem.

@ytkhunter Wow, thanks for the info.
I would never have thought that there was such a market.

Well, I also have less contact with this kind of thing.

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