Oatly for 10 billion goes to IPO?

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Date: 16.02.2021

Oatly AB, the maker of vegan food and drink products, is considering seeking a value of around $10 billion in a U.S. listing, according to people familiar with the matter.

Malmo, Sweden-based Oatly is working with advisers on an initial public offering that could come as soon as May, the people said, asking not to be identified discussing confidential information. Deliberations are ongoing and details on size and timing of the listing could still change, the people said.

While Oatly had also considered listing in Hong Kong, it has decided to press ahead with only a U.S. share sale for now, the people said. A representative for Oatly declined to comment.

Its products continue to attract a following among latte drinkers from New York to Shanghai, thanks to frothing qualities that emulate dairy milk. The company also has a deal with Starbucks Corp., which has placed Oatly lattes on its menus in China. This has all helped attract investors. Last year, Oatly secured $200 million in funding from backers including Blackstone Group Inc. and celebrity entrepreneurs Oprah Winfrey and Jay-Z.

Oatly’s popularity highlights plant-based products’ jump into the mainstream, as environmental and health concerns spur consumers to seek alternatives to traditional meat and dairy products. Shares in Beyond Meat Inc. have surged more than 500% since the maker of plant-based burger patties went public in May 2019.

The article was prepared based on the information: Bloomberg

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