Oatly Hits the Market With $10 Billion IPO.
On Thursday, Swedish oat milk brand Oatly listed on Nasdaq under the stock ticker “OTLY.”.
Pre-market debut, the company priced its shares at $17 each, giving itself an implied valuation of $10 billion.
Oatly raised over $1.4 billion from the sale of existing and new equity.
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Shares soared 24 percent during its public market debut.
The stock opened at $22.12, increasing the company’s market value to $13.1 billion.
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Oatly’s reach has expanded rapidly in recent years.
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It made its debut in U.S. coffee shops only five years ago.
The company’s signature oat milk product is now sold across more than 20 countries in over 32,000 coffee shops and 60,000 retailers.
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Its revenue reached $421.4 million in 2020, with retailers accounting for three-fourths of sales.
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Oatley is backed by a number of big names, including Natalie Portman, Oprah and former Starbucks CEO Howard Schultz.
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Oatley is backed by a number of big names, including Natalie Portman, Oprah and former Starbucks CEO Howard Schultz.
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Oatley is backed by a number of big names, including Natalie Portman, Oprah and former Starbucks CEO Howard Schultz.
