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Oatly shares have soared 18 percent following its highly anticipated debut on the stock market.
Earlier this week, the plant-milk giant announced the pricing of its initial public offering of 84,376,000 American Depositary Shares (ADS).
Oatly shares
The AD, priced at $17, launched on the Nasdaq Global Select Market yesterday, under the ticker symbol OTLY.
At the time of writing, Oatly shares are priced at $20.20 – an 18.82 percent increase from the IPO.
“Hooray! We’re a now public company,” the Swedish brand wrote on Twitter. “What does being a public company mean? That we are owned by the public, of course!
“You can now support the Post Milk Generation by buying a carton of barista edition oat drink or by buying a couple of shares of OTLY.
“Our listing on Nasdaq (OTLY) will allow us to build the factories we need so there’s enough Oatly to go around.
“[We’ll] continue to create amazing new plant-based products that help us turn the corner on climate change and keep this planet available for those of us yet to be born.”
Plant-based factory
Earlier this year, Oatly announced plans to open one of the world’s largest plant-based factories in the UK.
The facility, located in Peterborough, is slated to open in Q1 2023. It is expected to supply the local area with around 200 new jobs.
Oatly says the factory will be able to produce 300 million liters of oat drink per year at launch, with the capacity to grow to 450 million liters. Oats will be sourced locally across the UK and the factory will supply the UK market.
Ishen Paran is the General Manager at Oatly UK. In a statement sent to PBN, he said: “Questions about a potential UK factory have been circulating for a while. We’re really excited to finally announce the news of its arrival in 2023.
“The UK is a really important driver of the global plant-based movement, with growing demand for Oatly across the country, and we’re excited to supply this increased demand.”
