Overview

• The shares opened at €72, about 9% above the €66 offer price, with the company valued at roughly €4.22 billion at the offer.
• The offering sold around 12.2 million shares for just over €800 million, leaving a free float of approximately 19%.
• About €100 million of proceeds go to Ottobock for acquisitions and investments, with most cash flowing to Näder Holding.
• Anchor commitments include up to €125 million from Klaus‑Michael Kühne and €115 million from a Capital Group fund.
• The deal is Frankfurt’s largest IPO since Douglas and the first Prime Standard listing of 2025 in a cautious German market.