Oatly Group AB Announces Pricing of Initial Public Offering
Oatly Group AB announced the pricing of its initial public offering (IPO) of 84,376,000 American Depositary Shares (ADSs) at $17.00 each. Of these, 64,688,000 ADSs are offered by Oatly, with the remaining 19,688,000 from selling shareholders. An additional 12,656,400 ADSs may also be purchased by underwriters. Trading on the Nasdaq under the symbol OTLY is set to begin on May 20, 2021, with closing anticipated on May 24, 2021, pending customary conditions.
- Initial public offering of 84,376,000 ADSs priced at $17.00 each.
- Potential for additional 12,656,400 ADSs from underwriters, indicating strong market interest.
- Potential dilution for existing shareholders due to additional ADSs offered.
- The reliance on selling shareholders for a significant portion of the offering.
MALMÖ, Sweden, May 19, 2021 (GLOBE NEWSWIRE) -- Oatly Group AB (“Oatly”) announced today the pricing of its initial public offering of 84,376,000 American Depositary Shares (“ADSs”), each representing one ordinary share, 64,688,000 of which are being offered by Oatly and 19,688,000 of which are being offered by certain selling shareholders, at a public offering price of
The closing of the offering is expected to occur on May 24, 2021 subject to satisfaction of customary closing conditions.
Morgan Stanley, J.P. Morgan and Credit Suisse are acting as lead book-running managers for the offering. Barclays, Jefferies, BNP PARIBAS, BofA Securities, Piper Sandler and RBC Capital Markets are acting as book-running managers. Rabo Securities, William Blair, Guggenheim Securities, Truist Securities, CICC, Nordea Bank Abp, Oppenheimer & Co., SEB, Blaylock Van LLC, C.L. King & Associates, Loop Capital Markets, Ramirez & Co., Inc., Siebert Williams Shank and Tribal Capital Markets are acting as co-managers for the offering.
The offering is being made only by means of a prospectus. A copy of the final prospectus relating to this offering, when available, may be obtained from any of the following sources:
- Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or by email at prospectus@morganstanley.com;
- J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone: 1-866-803-9204, or by email at prospectus-eq_fi@jpmchase.com; or
- Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, or by phone at 1-800-221-1037 or by email at usa.prospectus@credit-suisse.com.
A registration statement on Form F-1 relating to these securities has been filed with, and was declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Oatly
We are the world’s original and largest oat drink company. For over 25 years, we have exclusively focused on developing expertise around oats: a global power crop with inherent properties suited for sustainability and human health. Our commitment to oats has resulted in core technical advancements that enabled us to unlock the breadth of the dairy portfolio, including alternatives to milks, ice cream, yogurt, cooking creams, and spreads. Headquartered in Malmö, Sweden, the Oatly brand is available in more than 20 countries globally.
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