Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Oprah-backed Oatly Files for IPO

04/19/2021 | 05:16pm EDT

By Kimberly Chin

Oatly Group AB has formally filed paperwork Monday for an initial public offering in the U.S., nine months after private-equity giant Blackstone Group Inc. and a handful high-profile celebrities took a stake in the oat milk producer.

The Malmö, Sweden-based company entered the U.S. market in 2017 with its alternative dairy products that have grown in popularity among consumers seeking healthier options with less impact on the environment.

Last July, The Wall Street Journal reported the company had sold a $200 million stake to a group led by Blackstone and included Oprah Winfrey, Natalie Portman, former Starbucks Corp. chief Howard Schultz and the entertainment company founded by Jay-Z. The sale of the roughly 10% stake valued Oatly at about $2 billion. In February, the oat-milk maker confidentially filed for an IPO in the U.S.

The retail value of the plant-based dairy industry in the Americas is expected to hit $7 billion by 2025, according to Euromonitor.

The growing appetite for plant-based alternatives has put pressure on dairy-milk companies like Dean Foods Co., which filed for bankruptcy in 2019. Meanwhile, companies focused on plant-based alternatives have seen demand from consumers and investors alike take off in recent years. For example, shares of plant-based food maker Beyond Meat Inc. have increased 441% since it went public in 2019.

As part of the filing on Monday, the company said it had revenue of $421.4 million in 2020, compared with $204 million in 2019. Its losses for the year, however, widened to $60.4 million, compared with $35.6 million a year earlier.

Oatly plans to raise $100 million from a sale of its American depositary shares, a placeholder figure companies often use to calculate filing fees and is often changed. It didn't disclose how many ADS it intends to offer to the public, according to registration documents filed with the Securities and Exchange Commission on Monday.

The company plans to list its ADS on the Nasdaq Stock Market under the symbol OTLY.

The company, which was founded in 1994, launched its first oat milk product under the brand Oatly in 2001. Oatly says the process of making oat milk, which involves steeping oats in water, consumes less water than making almond milk. In addition to oat milk, the company makes products such as ice cream, yogurt and spreads.

Oatly plans to use the proceeds from the offering for working capital and to invest in its growth and other general corporate purposes.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

04-19-21 1916ET

Stocks mentioned in the article
ChangeLast1st jan.
BEYOND MEAT, INC. -1.22% 126.54 Delayed Quote.1.23%
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 0.00% 16.57 End-of-day quote.5.00%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 0.19% 15.96 End-of-day quote.15.74%
DEAN FOODS COMPANY 0.00%End-of-day quote.33.45%
DJ INDUSTRIAL 0.68% 35061.55 Delayed Quote.13.78%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 0.00% 60.1 End-of-day quote.35.97%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 1.11% 159.95 End-of-day quote.15.20%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.29% 121.15 End-of-day quote.7.57%
NASDAQ COMP. 1.04% 14836.991139 Delayed Quote.13.94%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 0.00% 125.325 End-of-day quote.11.01%
OATS FUTURES (O) - CBR (FLOOR)/C1 1.54% 461.5 End-of-day quote.27.93%
RETAIL VALUE INC. -0.08% 24.63 Delayed Quote.65.64%
S&P GSCI CLASS III MILK (USD) 0.54% 128.3979 Delayed Quote.-3.32%
STARBUCKS CORPORATION 2.72% 125.97 Delayed Quote.17.75%
THE BLACKSTONE GROUP INC. 1.06% 111.3 Delayed Quote.71.73%
Latest news "Economy & Forex"
04:04pUk looks to remove china’s cgn from nuclear power projects - ft
02:13pCredit Suisse settles spying case with former star banker
02:01pTesla restarts model s deliveries after a week-long hold - electrek
01:56pU.s. cdc says 163,025,726 individuals have been fully vaccinated against covid-19 as of july 25 vs 162,725,812 individuals as of july 24
01:56pU.s. cdc says 188,472,188 individuals have received at least one dose of covid-19 vaccine as of july 25 vs 187,982,826 individuals as of july 24
01:55pU.s. cdc says administered 394,948,975 doses of covid-19 vaccine as of july 25 vs 341,039,972 doses administered as of july 24
01:54pU.s. cdc says delivered 394,948,975 doses of covid-19 vaccine as of july 25 vs 394,936,815 doses delivered as of july 24
01:05pEgypt registers primary surplus of 1.4% of GDP in FY 2020-2021 - statement
12:58pUMWA UNITED MINE WORKERS OF AMERICA : Yogi Muise, cornerstone member of Cape Breton's Men of the Deeps, has died
12:45pRepublican lawmaker says public transit dispute holding up U.S. infrastructure bill
Latest news "Economy & Forex"