Oprah-backed Oatly raises $1.4 billion in IPO

  • 5 months   ago
Oprah-backed Oatly raises $1.4 billion in IPO

Swedish vegan milk maker Oatly Group AB (OTLY.O), which counts celebrities Oprah Winfrey and Natalie Portman among its backers, raised $1.4 billion in its U.S. initial public offering on Wednesday, the company said in a statement.

The company, whose investors also include rapper Jay Z and former Starbucks Corp head Howard Schultz, said it priced 84.4 million American depositary shares in the initial public offering at $17 each, at the top of its indicated range. This implies a valuation for the company of $10 billion.

 

Oatly's share sale comes in the middle of a crucial juncture for the U.S. IPO market, which is facing significant volatility due to inflation fears that have forced investors to abandon high-growth stocks, focusing on value stocks instead.

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