Allen & Overy advises Nativus on the USD10 billion IPO of Oatly
21 May 2021
Allen & Overy has advised Nativus Company Limited (Nativus), a joint venture formed by Verlinvest and a leading Chinese state-owned enterprise, as the majority shareholder in Oatly Group AB (Oatly) in connection with Oatly’s USD10 billion initial public offering (IPO) on the Nasdaq Global Select Market.
Oatly is market leader in the fast-growing plant-based F&B space, with its pioneering liquid oat products now available in more than 50,000 locations worldwide.
Allen & Overy is proud to have worked closely with Nativus to support Oatly’s development into a global leader in the dairy-free consumer market over the past five years, having first advised on their original majority investment into Oatly in 2016 as well as the subsequent USD200 million funding round which saw Oatly endorsed by celebrity investors such as Oprah Winfrey, Natalie Portman and Jay-Z-founded Roc Nation.
Oatly's shares started trading on the Nasdaq Stock Market on 20 May 2021 priced at USD17 per share, giving the company a valuation of approx. USD10 billion.
The Allen & Overy team which advised on the transaction was led by partner Will McAuliffe and included partner David Norman, senior associate James Yip, associates Clara Chang and Yuan Sun and trainees Michael Cheng and Harrison Chung, with U.S. securities law advice provided by partners Felipe Duque and Justin Cooke and associate Mike Rothenburg, and UK securities law advice provided by counsel Harsha Kumar.