Plant-based food company Oatly Group AB priced its initial public offering at $17 a share Wednesday, at the top end of its expected range and valuing the company around $10 billion.
Oatly will sell 84.4 million shares, raising $1.43 billion. It had aimed for a range of $15 to $17 a share. Shares are scheduled to start trading Thursday on the Nasdaq under the ticker symbol OTLY
The Swedish company is backed by private-equity group Blackstone, along with celebrities such as Oprah Winfrey and Jay-Z.
There are nine lead underwriters for the IPO: Morgan Stanley, JPMorgan, Credit Suisse, Barclays, Jeffries, BNP Paribas, BofA Securities, Piper Sandler and RBC Capital Markets.