Reuters says Swedish vegan milk maker Oatly Group AB, which counts celebrities Oprah Winfrey and Natalie Portman among its backers, raised $1.4 billion in its US initial public offering on Wednesday, the company said in a statement.
The company, whose investors also include rapper Jay Z and former Starbucks Corp head Howard Schultz, said it priced 84.4 million American depositary shares in the initial public offering at $17 each, at the top of its indicated range.
This implies a valuation for the company of $10 billion.
The Malmö, Sweden based maker of dairy alternatives sells its products in more than 20 markets across Europe, the United States and China. Known primarily for its oat milk products, it has tie-ups with several cafes in the United States, including Starbucks. It also sells its products online and through food retailers like Target Corp and Tesco.