Alternatively successful: Milk oat producer Oatly raises $1.43B in IPO

The startup Oatly had a successful IPO. This is especially interesting and important against the backdrop of the unstable IPO result of recent times. According to The Wall Street Journal’s sources, the success is due to the fact that the startup is a consumer brand rather than a technology company, which have been the heroes of news stories about unsuccessful listings.

The company has set a valuation range of $15 to $17 and has floated at the upper end of the range. It raised $1.43B and has a valuation of about $10B, which will start trading today, May 20, on Nasdaq under the ticker OTLY.

In its investor materials (previous rounds of the company included such celebrities as Oprah Winfrey, Natalie Portman and Jay-Z) Oatly has positioned itself as the largest producer of alternative oat milk. Also, the company has already reported revenues of $447M for the first quarter of this year.

The alternative dairy products industry is booming these days due to the growing number of people with lactose intolerance, the trend of veganism, ethical concerns about dairy farming conditions, and the growing demand for organic products. These factors have contributed to the continuing switch to plant-based dairy products, stimulated investment and the availability of alternative dairy products on shelves around the world. The global market for alternative dairy products is projected to reach $44.89B by 2027.