Oatly Shares Jump in Market Debut

Shares of Swedish oat-milk maker Oatly Group AB climbed 30% in their trading debut on Thursday.
The stock opened at $22.12 on the Nasdaq Stock Market under the symbol OTLY, giving the celebrity-backed company a valuation of roughly $13 billion. This was 30% above its initial public offering price of $17. The price was first reported by The Wall Street Journal.
A day before its market debut, Oatly’s IPO raised $1.43 billion. The proceeds will go to the company and selling shareholders.
Going public has proved tough for several companies of late. The stock market has taken a turn lower on fears of inflation, and investors have increasingly shied away from the types of growth companies that typically go public.
Last week, at least three companies postponed their IPOs because of volatility in the stock market. On Wednesday, website-development company Squarespace Inc.’s shares made their debut on the New York Stock Exchange at a level far below their last financing round, then proceeded to fall further through the afternoon.

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