Food brand company producing dairy products alternatives from oats Oatly said it managed to raise $1.4 billion form its New York Stock Exchange initial public offering held on May 19.
Starting from May 20 the company will be trading on NYSE under the ticker symbol ‘OTLY’.
The company priced its shares at $17 per share in the IPO which left the Sweden based company with a market valuation of $10 billion.
Oatly produces a wide range of vegan dairy products including Oat beverage drinks, Oats yoghurt, Oats ice-creams among other products. The company supplies its products in over 20 markets across Europe, China and the United States.
The company sells products online through food platforms like Tesco Plc. (LON: TSCO) and Target Corp. (TGT). Oatly also have multiple partnership deals with United States based companies like Starbucks Corp. (SBUX).
Oatly counts on millennials and generation z as its huge customer base since many who fall into these categories are willing to spend even more on sustainable health products which are also healthy.
The company enjoys a list of high profile celebrities who back it like talk show host Oprah Winfrey and actress Natalie Portman. American rapper and business man Jay Z also owns stake in the company.