Milbank LLP Advised Underwriters on Ottobock IPO, the Largest German IPO in 2025
Milbank LLP advised the underwriting syndicate comprising BNP Paribas, Deutsche Bank, Goldman Sachs, BofA Securities, UBS, Jefferies, UniCredit, COMMERZBANK, DZ BANK, and LBBW on the initial public offering (IPO) of Ottobock SE & Co. KGaA (“Ottobock”) on the Frankfurt Stock Exchange, covering all corporate and capital markets law aspects. Based on the final offer price of EUR 66 per share, Ottobock’s market capitalization amounts to approximately EUR 4.2 billion. The placement volume exceeds EUR 800 million (assuming full exercise of the greenshoe option).
Ottobock is a global MedTech champion, combining over 100 years of tradition with outstanding innovative strength in the fields of prosthetics, neuro-orthotics and exoskeletons. Ottobock develops innovative fitting solutions for people with limited mobility and is driving the digitalization of the industry. Founded in Berlin in 1919, the company has business activities in 45 countries with nearly 9,300 employees (FTEs) worldwide and operates the largest international patient care network with around 400 patient care clinics. Ottobock is shaping the future of human bionics with a strong R&D ratio in the products and components business and over 2,600 patents and patent applications. Ottobock’s mission of improving freedom of movement, quality of life and independence is deeply rooted in the company’s DNA, as is its social commitment: Ottobock has been a partner and supporter of the Paralympics since 1988.
The Milbank LLP team was led by Philipp Klöckner (Partner), and included David Dixter (Partner), Matthias Schell (Partner), Karoline Koenig (Special Counsel) and Nico Feuerstein (Special Counsel) as well as Hendrik Gaebler (Associate), Christian Kolb (Associate), Janik Brem (Associate), and Arne Hammerich (Associate).
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