It was a big week for Oatly, as the oat milk company raised $1.4 billion USD in an initial public offering (IPO) on Thursday via Nasdaq exchange. According to CTV News, the company’s shares were reportedly going for $17 each prior to the IPO. At the time, the company was worth an estimated $10 billion. However, following the IPO, each share is now valued at $21, meaning Oatly’s shares managed to rise by 24% this week.

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An initial public offering (also called a stock market launch) occurs when shares are available to be sold to investors. Oatly has made headlines for attracting a variety of celebrity investors, including Oprah Winfrey, Natalie Portman, Jay-Z and former Starbucks Corp head Howard Schultz, Financial Post confirms.

Oatly, which coins itself as the original oat milk company, was founded in the 1990s out of Sweden’s Lund University. They pride themselves in being environmentally sustainable. Through a “patented enzyme technology that copies nature’s own process,” the company is able to turn oats into oat milk, which many health experts say is a healthier (and more eco-friendly) alternative to cow’s milk.

Oatly addressed the IPO directly on the homepage of their website. In a statement, they explained what it means for their business to now be a public company. They hope the recent IPO will give them the resources necessary to expand, manufacture more products, and further infiltrate the market.

“The real significance of public ownership day however is that we will be able to build the factories we need so you don’t have to write to us every week asking why there isn’t enough Oatly to go around,” it read. They added they hope to continue making “new plant-based products that help us turn the corner on climate change and keep this planet available for those of us yet to be born.”

Since its establishment almost thirty years ago, Oatly has expanded into an international company. It’s available in over twenties countries throughout North America, Asia, and Europe. Its main offices are still in Sweden.

There’s been a growing demand for plant-based products, such as oat milk, in recent years, for several reasons. For one, they’re more sustainable and eco-friendlier. Additionally, in many cases, they’re healthier alternatives, especially for folks with allergies or dietary restrictions. Healthline notes that oat milk has a number of health benefits, including:

• It’s free from lactose, soy, and nuts
• Great source of vitamins and other nutrients (like B vitamins),
• Research shows it can lower cholesterol
• Improves bone health (due to calcium and vitamin D)

If one thing is for sure, it’s that consumers can expect to see an increase in the availability in oat milk. Even more, this may signal the continuing rise in the demand for plant-based and sustainable products.

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Sources: CTV News, Financial Post, Healthline, Oatly,