Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, April 30, 2021

Article Excerpt

OATLY GROUP AB has filed paperwork with U.S. regulators for an initial public offering (IPO) of common shares. The shares will trade on Nasdaq under the symbol OTLY. Malmo, Sweden-based Oatly is the world’s largest producer of oat milk. It also produces frozen desserts and oatgurt, a non-dairy form of yogurt. The company was founded in 1994 by brothers Rickard Öste and Björn Öste. The startup followed research from Lund University, which led Oatly to patent its enzyme technology that turns oats into a milk substitute. In July 2020, Oatly raised $200 million in venture-capital funding to grow its business. The financing was led by Blackstone Group (symbol BX on New York) with investments from Oprah Winfrey, Natalie Portman, former Starbucks Corp. chief Howard Schultz and the entertainment company founded by Jay-Z. The funds were used to increase its manufacturing capacity while adding to its distribution network in the U.S., Europe, and Asia. Last year, Oatly entered into a partnership with Starbucks (symbol SBUX…

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