Oatly Group AB, the world’s original and largest oat drink company, has announced 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 US$17 per ADS. The underwriters of the offering will also have a 30-day option to purchase up to an additional 12,656,400 ADSs from the selling shareholders at the initial public offering price.
The ADSs are expected to begin trading on the Nasdaq Global Select Market on May 20, 2021 under the ticker symbol “OTLY.” The closing of the offering is expected to occur on May 24, 2021 subject to satisfaction of customary closing conditions.
Latham & Watkins LLP represents Oatly in the offering with a capital markets team led by New York partners Marc Jaffe, Ian Schuman, and Stelios Saffos, with London associates Jenna Gascoyne and Sarah Youssefi, New York associate MacLane Taggart, and London associate Jessica Burke. Advice was also provided on benefits and compensation matters by New York partner Bradd Williamson, with New York associate Anne Bracaglia; on tax matters by New York partner Lisa Watts, with New York associates Alan Kimball and Michael Yu; on public company representation matters by New York counsel Emily Corbi, with Boston associate Nicole McNeil; on intellectual property matters by New York partner Alan Tamarelli, with New York associates Jiqiang Lin and Rashmi Borah; on regulatory matters by Brussels/Paris partner Eveline Van Keymeulen and Washington, D.C. of counsel Carolyne Hathaway, with Washington, D.C. associate Chad Jennings and Paris associate Jeanne Fabre; on anti-corruption, anti-money laundering, and sanctions matters by Washington, D.C. partner Eric Volkman, with Washington, D.C. associates Christopher D’Agostino and Elizabeth Annis; and on other corporate matters by New York partner Jane Greyf, with New York associate Kyle Adams.