Oatly Group AB

Oatly Group AB (OTLY) priced its initial public offering on May 21, 2021 at $17.00 per ADS, within its $15.00–$17.00 range, raising $1.43B, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $10.06B. Morgan Stanley was lead-left underwriter, joined by J.P. Morgan, Credit Suisse and Barclays and others. White & Case and Latham & Watkins advised the company and Weil, Gotshal & Manges advised the underwriters.

Oatly Group AB operates in the plant-based dairy market with products built around oats. It positions itself on sustainability and health and says it aims to lead the transformation of the global dairy market, which it describes as worth about $600 billion at retail.

Status

IPO

Ticker

OTLY

Exchange

Nasdaq Global Select

Priced

May 21, 2021

IPO price

$17.00 per ADS

Price range

$15.00–$17.00

Raised

$1.43B

Market cap at IPO price

$10.06B

First filed

Apr 19, 2021

Underwriters

Morgan Stanley, J.P. Morgan, Credit Suisse, Barclays, Jefferies, BofA Securities, Piper Sandler, RBC Capital Markets, Rabo, William Blair, Guggenheim and Truist

Company counsel

White & Case and Latham & Watkins

Underwriters' counsel

Weil, Gotshal & Manges

Sector

Consumer

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.