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Oatly Rises 18% in Debut After Raising $1.4 Billion in IPO

  • Jay-Z, Starbucks founder Schultz said to buy IPO shares
  • CEO Petersson says Oatly is focused on closing supply gaps
Bloomberg business news
WATCH: Oatly Group and its investors sold more than 84 million American depositary shares on Wednesday, raising more than $1.4 billion.Markets: European Close." (Source: Bloomberg)
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Oatly Group AB, the vegan food and drink maker, climbed 18% in its debut after pricing its initial public offering on the high end to raise more than $1.4 billion.

The shares closed Thursday at $20.20 in New York trading, giving the company a market value of about $12 billion. The company and its investors sold more than 84 million American depositary shares on Wednesday at the top of a marketed range of $15 to $17 each.