THE WHAT? Oatly Group announced the pricing of its initial public offering on May 19, 2021, with trading commencing the following day. Some 84.376,000 American Depositary Shares were offered at US$17 a-piece.
THE DETAILS The vegan food and drink maker saw shares climb 18 percent on its debut, closing at US$20.20 on Thursday in New York trading, valuing the company at US$12 billion, according to a report published by Bloomberg.
On Friday, shares dipped slightly on opening before rallying to hit a high of US$22.80, up 11.41 percent at the time of writing.
THE WHY? The popularity of the Swedish health food firm reflects the wider shift in attitude towards dairy alternatives. With nine planned production facilities by 2023 and LTM Q1 revenue of US$447 million, the world’s largest oat milk producer is a safe bet.