Shares of Oprah Winfrey-backed Oatly Group jumped 18.8 per cent in their market debut, valuing the Swedish oat milk maker at about $US12 billion ($15 billion), as demand for plant-based food products surges globally.
Oatly’s strong debut, along with that of construction software firm Procore Technologies, is expected to restore short-term confidence in US initial public offerings. That market has been rocked by recent inflation fears that forced investors to abandon growth stocks.
