Oatly Group AB (OTLY) Prices 84.376M ADS IPO at $17/ADS

Oatly Group AB (NASDAQ: OTLY) announced today the pricing of its initial public offering of 84,376,000 American Depositary Shares (“ADSs”), each representing one ordinary share, 64,688,000 of which are being offered by Oatly and 19,688,000 of which are being offered by certain selling shareholders, at a public offering price of $17.00 per ADS. The underwriters of the offering will also have a 30-day option to purchase up to an additional 12,656,400 ADSs from the selling shareholders at the initial public offering price. The ADSs are expected to begin trading on the Nasdaq Global Select Market on May 20, 2021 under the ticker symbol “OTLY.”

The closing of the offering is expected to occur on May 24, 2021 subject to satisfaction of customary closing conditions.

Morgan Stanley, J.P. Morgan and Credit Suisse are acting as lead book-running managers for the offering. Barclays, Jefferies, BNP PARIBAS, BofA Securities, Piper Sandler and RBC Capital Markets are acting as book-running managers. Rabo Securities, William Blair, Guggenheim Securities, Truist Securities, CICC, Nordea Bank Abp, Oppenheimer & Co., SEB, Blaylock Van LLC, C.L. King & Associates, Loop Capital Markets, Ramirez & Co., Inc., Siebert Williams Shank and Tribal Capital Markets are acting as co-managers for the offering.

The offering is being made only by means of a prospectus.

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