Ottobock SE and its Näder family shareholder plan to raise up to €708.7 million (US$831.2 million) through an IPO in Frankfurt.

The Germany-based company, which makes prosthetics and mobility aids, is offering shares at €62 to €66 each (US$72.7-$77.4).

Ottobock is issuing about 1.6 million new shares, while a Näder family entity is selling about 9.1 million existing shares.

If priced at the top end, the company could be valued at up to €4.2 billion (US$4.93 billion).

Ottobock reported core earnings of €175 million (US$205 million) on €760 million (US$891 million) in core revenue for the first half of the year.

Cornerstone investors Kühne Holding AG and a Capital Group fund have committed to buy up to €125 million (US$146.5 million) and €115 million (US$134.8 million) of shares, respectively.

The IPO is being led by BNP Paribas, Deutsche Bank, and Goldman Sachs, with trading expected to start on October 9.

🔗 Source: Bloomberg