January 4, 2019 / 8:59 AM / 5 months ago

Ottobock IPO won't be before 2020: CEO in Handelsblatt

FRANKFURT (Reuters) - German artificial limb maker Ottobock’s IPO-OBH.F potential stock market listing will not take place before 2020, its chief executive told a German newspaper.

“An initial public listing will not happen before 2020. We are taking our time for a sustainable equity story,” Philipp Schulte-Noelle, who took over as chief executive in November, told Handelsblatt.

Hans Georg Naeder, grandson of the company’s founder, sold a 20 percent stake to Swedish private equity firm EQT in 2017, as a way to get an independent valuation for the company before tapping other investors for cash.

Reporting by Christoph Steitz; Editing by Susan Fenton

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