PE-backed Oatly could list as early as May – report

Bloomberg reported on Friday, citing unnamed sources, that an IPO process was ongoing, and listing as early as May was a possibility, even though nothing had been decided as yet.

The sources said a Hong Kong listing had been considered, but the company was now working on a listing in the US at a value that could reach around $10bn, much higher than the $1bn figure reported by several press reports at the beginning of the year.

CNBC reported in January that Morgan Stanley, JP Morgan Chase and Credit Suisse had been tapped to run the process.

In 2016, Oatly was acquired by a joint venture of Verlinvest and China Resources. Since then, it has raised $240m in equity from the company's founders and private investors Industrifonden, Östersjöstiftelsen, Blackstone, Nativus, Roc Nation, Orkila Capital and Rabo Corporate Invest, as well as former Starbucks CEO Howard Schultz, Oprah Winfrey and Natalie Portman.

Oatly was founded in 1990 and is based in Malmö. The company uses a patented enzymation process, and its products are currently available in more than 50,000 locations in 20 countries. The company in 2019 generated revenues of around $200m, and it has 200-500 staff, according to its LinkedIn profile.

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• Topics
• Exits
• Nordics
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• Sweden
• IPO
• Industrifonden
• Blackstone Group
• Rabo Private Equity