Shares in alt-milk maker Oatly surge on US stock market debut
by Zoe Wood from on (#5J2N9)
Swedish firm valued at $13bn as investors bet on soaring demand for plant-based food alternatives
Shares in Oatly have surged by 30% on the company's US stock market debut, valuing the alt-milk maker at $13bn (9.2bn), as investors bet runaway demand from consumers for plant-based food alternatives will continue.
Oatly is using the money from the initial public offering to expand its global network of factories, enabling it to quadruple production from 350m litres of oat milk a year to 1.4bn in two years. Its plans include a large site in Peterborough, East Anglia.
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