Oatly, the world’s largest oat milk company, raised $1.4 billion in an initial public offering on the Nasdaq stock exchange. Oatly priced its shares at $17 apiece ahead of the IPO, giving the company a valuation of nearly $10 billion. Its shares then jumped 24% when the began trading Thursday. They ended the day up 19%. It’s the latest milestone in the rapid rise of oat milk, which is winning consumers __ and big-name investors like Oprah Winfrey __ with the message that it’s healthier and more environmentally sustainable than cow’s milk. U.S. sales of oat milk jumped 131% over the last year, according to Nielsen.
