German prosthetics firm Ottobock won’t be taking a 20% stake in Orthomedics

Egyptian prosthetics company Orthomedics will not sell a 20% stake to Ottobockafter ending talks with the German firm, Al Borsa cited Orthomedics Chairman Khaled El Deeb as saying, without disclosing further information. Negotiations between the two firms had been ongoing since early 2020.

IPO still in the cards: El Deeb reiterated the company’s intention to go public on the EGX, first announced back in 2020. He said at the time that the firm could sell a 49% stake in an IPO.