Oprah Winfrey's 'Pick' Vegan Milk Company Reaches $10 Billion Valuation

[Asia Economy Reporter Cho Hyun-ui] Swedish vegan food company Oatly, which has attracted attention with investments from famous American stars such as Oprah Winfrey, Natalie Portman, and Jay-Z, was valued at approximately $10 billion (about 11.329 trillion KRW) during its initial public offering (IPO) on the US stock market.

Major foreign media reported on the 19th (local time) that Oatly set the public offering price for 84 million American Depositary Shares (ADS) at $17 per share, at the upper end of the expected price range ($15?$17) for the IPO.

Accordingly, the amount raised through the IPO reached $1.43 billion, and the company was valued at a total of $10 billion.

Oatly submitted its IPO application to the US Securities and Exchange Commission (SEC) on February 23. When it raised $200 million in investment last July, the company was valued at around $2 billion.

Founded in 1994, Oatly is a vegan food manufacturer headquartered in Malm?, Sweden. It mainly produces oat-based milk and also makes yogurt, ice cream, and other products. The company entered the US market in 2016.

Oatly shares are scheduled to begin trading on the Nasdaq market starting on the 20th.

This content was produced with the assistance of AI translation services.