An Oatly ad campaign from 2019

An Oatly ad campaign from 2019

The parent company of Oatly, the Sweden-based dairy-alternative business, has started the ball rolling on a planned IPO.

Havre Global has submitted a draft registration statement with the US stock-market regulator on a proposed offering of American depositary shares, or ADRs, in the country.

In a brief statement issued today (23 February), Havre Global said the number of ADRs to be put up for offer and the price range for the shares "have not yet been determined".

The company added: "The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions."

Last autumn, reports emerged Oatly's owners were looking at a possible listing. More reports followed in January, with Oatly declining to comment on a CNBC story the company was lining up an IPO and was hoping to raise US$1bn.

An undisclosed minority stake in the business was sold last summer to a group of investors that included US private-equity firm Blackstone Group and celebrity Oprah Winfrey for $200m.

Rapper Jay-Z's entertainment company Roc Nation, actress Natalie Portman, the former Starbucks chairman Howard Schultz and Rabo Corporate Investments, the investment arm of Rabobank, also took part in the equity raise.

just-food opinion, September 2020: Blackstone's Oatly backing may unsettle some but there are benefits