Sweden-based Oatly, which counts Oprah Winfrey and rapper Jay-Z among its prominent backers, has submitted plans for an initial public offering to regulators, the maker of vegan food and drink products said on Tuesday.
The company, which sells its Oatly brand of products in more than 20 countries across Europe and Asia, could be valued at more than $5 billion, possibly up to $10 billion, people close to the matter told Reuters.
Morgan Stanley, JPMorgan and Credit Suisse are global coordinators for the flotation, which could take place before the summer break, the people said. JPMorgan and Credit Suisse had no immediate comment when contacted by Reuters, while Morgan Stanley declined to respond.
Oatly, founded by brothers Rickard and Björn Öste, was valued at about $2 billion in July, according to PitchBook.
Read more at Reuters
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