Plant-Milk Maker Oatly Aims for $1.6 Billion Nasdaq Listing, Though Chinese Backing Could Prove a Problem

Major plant-based milk-alternative maker Oatly Group AB has spelled out its IPO pricing, though questions remain about whether its ties with a Chinese state-owned backer could affect its Nasdaq listing.

The Swedish company expects to raise up to $1.65 billion with an offering price of between $15 to $17 per American depositary share, it said in its updated prospectus on Tuesday. That would give it a $10 billion valuation.