Opening Day: Oatly Soars In Market Debut, Squarespace Plunges

IPO stock photo | by lendingmemo_com

Oatly shares soared 24% in the company's public market debut Thursday. Oatly produces a milk substitute made from oats and has grown rapidly in recent years. Meanwhile, Squarespace shares fell as much as 13% below its direct listing reference price on Wednesday amid a broader market selloff.


Oatly Group (OTLY) opened on May 20 at $22.12. The company had priced its initial public offering of 8.376M American depositary shares at a public offering price of $17 per ADS. Morgan Stanley, J.P. Morgan and Credit Suisse acted as lead book-running managers for the offering. Barclays, Jefferies, BNP, BofA Securities, Piper Sandler and RBC Capital Markets acted as book-running managers. Oatly is the largest oat drink company.

Procore (PCOR) opened on May 20 at $84. The deal priced above the $60.00-$65.00 range at $67. Goldman Sachs, JPMorgan, Barclays and Jefferies acted as joint book running managers for the offering. Procore is a provider of construction management software.

The direct listing of Squarespace (SQSP) opened on May 19 at $48, slightly below the $50 reference price. Squarespace is a website building and e-commerce platform.

Jiuzu Holdings (JZXN) opened on May 19 at $45. The company had priced its upsized initial public offering of up to 5.2M ordinary shares at $5.00 per share. The offering is being conducted on a firm commitment basis. Boustead Securities acted as the sole underwriter for the offering. Jiuzu Holdings is a new energy vehicles franchisor and retailer in China.


  • Oatly Group finished Friday at $22.46.
  • After opening at $84, Procore ended the week at $88.62.
  • Squarespace finished Friday at $49.56.
  • Jiuzu Holdings ended the week at $8.41.
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