What's Going On With Oatly Group AB?
Oatly Group (OTLY) stock rose on Monday after the company announced the pricing of its initial public offering of 84,376,000 American Depositary Shares (ADS), with each representing one ordinary share. 64,688,000 are being offered by Oatly and the remaining 19,688,000 are being offered by certain selling shareholders at a public offering price of $17.00 per ADS. Shares of the company were trading higher 1.01% to $17.04 a share on Monday.
What Does This Mean For Oatly Group AB?
The offering is expected to close on May 24, 2021. Morgan Stanley, J.P. Morgan and Credit Suisse are acting as lead book-running managers for the offering.
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.
Oatly is presently facing a major class action lawsuit. The firm of Bronstein, Gewirtz & Grossman LLC are representing shareholders in their claims that Oatly made false and/or misleading statements and/or failed to disclose it overinflated its gross margins, revenue, and capital expenditure financial metrics.
Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Sweden.
OTLY has an Overall Score of 30. Find out what this means to you and get the rest of the rankings on OTLY!
Oatly Group AB is engaged in the food and drinks industry. Some of its products include Oat Drink, Chilled Oat Drink, Oatgurt, Creamy Oat, Icecreams, among others. It caters to Sweden, Germany, United Kingdom, Netherlands, North America, Finland, and Other markets.
