The world's largest Oat milk company, Oatly Group AB, went public on the May 20, 2021. The shares of the company were listed on NASDAQ under the ticker OTLY and were initially planned to be priced at $15 to $17 per share. However, the share price opened at $22.2 per share. This 30% upsurge helped the company become valued at $13.1 billion. Yet, within a few minutes after the first trade, the prices collapsed.
At $17 per share, the IPO raised $1.4 billion, giving the vegan food giant a market valuation of $10 billion. The company had offered 84.4 million American Depository Shares to the public. Morgan Stanley, JP Morgan, Barclays, Credit Suisse, BNB Paribas, Jeffries, BofA Securities, RBC Capital markets and Piper Sandler were the lead underwriters for the IPO.