Oatly Looks to Raise Money in Stock Market Float

Oatly, the plant-based milk company started in Sweden, is planning a stock exchange listing in the United States. The progress approach as the company has been pushing to expand, between the roaring popularity of alternative milk. Last year, it raised $200m, drawing investment from celebrities including Jay-Z, Oprah Winfrey, and Natalie Portman.

Moreover, the firm which sells in more than 20 countries, did not say how much money it hopes to raise in the listing. But over the last 12 months, investors have shown a strong taste for shares of companies making their public-trade debuts.

On the other hand, Market valuations for firms such as Airbnb, dating app Bumble, and food delivery platform Doordash have soared. While Oatly’s early oat milk discovery is said to be seeking a valuation of as much as $10bn, compared to the $2bn value suggested by July’s investment round. 

Founded in the 1990s, previous investors include the state-owned China Resources and Verlinvest, a Belgium-based investment firm. When it launched in the US in 2016, the product was so popular it suffered poverty and has expanded its products from milk to ice cream and milk and is eyeing growth in China.

Researchers say that the market for dairy choices could almost double. Moreover, the next five years, as increased dairy sensitivity and worry about dairy’s environmental impact. On the other hand, in the US, almond milk is the top seller, but oat passed soy last year to claim the second most popular spot. Oatly, which reported more than $200m in sales in 2019.

Generally, companies such as PepsiCo’s Quaker Oats and dairy giant HP Hood launch their own brands. New milk choices, made from products like peas, have also gained popularity among consumers.