OTLY - Oatly IPO: Oprah Winfrey-backed oat-milk brand's stock indicated to open about +18%

Oat-milk brand Oatly Group (OTLY), which is set to begin trading later Thursday following an eagerly anticipated IPO, was reportedly indicated to open at about $20 a share – up some 18% from the stock’s $17 IPO pricing.Bloomberg reported that as of about 11 a.m. ET, indications showed the Swedish-based Oatly’s American Depositary Shares would start trading at about $20.13. The company’s ADSs priced late Wednesday at the top of the initial public offering’s expected $15 to $17 price range.OTLY makes a popular brand of oatmilk and other plant-based dairy alternatives. The company counts Oprah Winfrey, rapper Jay-Z, actress Natalie Portman and ex-Starbucks CEO Howard Schultz among its pre-IPO investors. Oatly’s institutional backers include Blackstone Group (BX) and Rabo Corporate Investments.The firm’s celebrity investors and ecofriendly product have attracted wide attention to both the IPO and the company’s oatmilk.CEO Toni Petersson wrote in a letter accompanying Oatly’s F-1 filing that oatmilk manufacturing

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Oatly IPO: Oprah Winfrey-backed oat-milk brand’s stock indicated to open about +18%