Prosthetics manufacturer Ottobock is planning an initial public offering later this year, in a boost for the German stock market which has struggled to attract new listings.
The family-owned company is targeting the second half of the year for the IPO and is aiming to raise about €1bn, according to several people familiar with its thinking. They added that the plans had not yet been finalised and could change depending on market conditions.
Two of the people said some of the money raised would be used to pay back a €1.1bn loan that Ottobock owner, Näder Holding, took out last year to buy back a minority stake from private equity investor EQT.
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