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Oatly shares leap on market debut | Meals Business Information

Oatly oat ‘milk’ on sale in Sainsbury’s, Crayford, south-east London, 20 Might 2021

Oatly, the Sweden-based maker of oat-based dairy options, noticed its share worth climb after itemizing within the US.

Shares in Oatly, which has attracted the monetary backing of buyers from rapper Jay-Z and ex-Starbucks boss Howard Schultz to private-equity agency Blackstone Group, closed at US$20.20 of their first day of buying and selling, above the $17-a-share at which the corporate had set its IPO. At lunchtime New York time yesterday (20 Might), Oatly’s shares had risen to $22.44.

Simply over 64.6m of the shares have been supplied by Oatly, with the remainder from unnamed buyers. The enterprise, which provides round 20 international markets, together with the UK, the US and Australia, will use the funds raised to repay round $200m in debt, finance the corporate’s future development and enlargement, and for working capital.

In 2016, the Belgium-based private-equity agency Verlinvest and Chinese language state-owned conglomerate China Assets took an undisclosed stake in Oatly by way of a brand new three way partnership targeted on well being and client merchandise. 

Final summer time, Oatly additionally bought a minority stake as a part of a $200m financing spherical led by US-based private-equity agency Blackstone Group, with contributions from rapper Jay-Z’s leisure firm Roc Nation, celebrities Oprah Winfrey and Portman, former Starbucks chief Schultz, plus Rabo Company Investments, the funding arm of Rabobank. 

In its monetary 12 months ended on 31 December, Oatly posted revenues of $421.4m, a rise of greater than 100% on the earlier 12 months, however recorded a lack of $60.4m attributable to investments in manufacturing and new markets, based on the IPO prospectus. 

And final month, Oatly prompt it might additionally search an IPO in Hong Kong.

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