Krispy Kreme is aiming for a nearly $ 4 billion valuation on a U.S. IPO as the donut chain seeks a return to the stock market, free from record capital market activity, according to a regulatory filing filed Tuesday The company, known for its glazed donuts, plans to sell approximately 26.7 million shares at a price of $ 21 to $ 24 per share, the filing shows. At the high end of the price range, it would rake in about $ 640 million.
Krispy Kreme’s listing plans come at a time when the US IPO market is experiencing unprecedented levels of activity. According to Dealogic, companies have already raised around $ 171 billion, surpassing the previous year’s record of $ 168 billion.
The donut seller filed a confidential application with regulators in early May, the first Revenue grew in Q3 2021, driven by increasing demand for sugary snacks during the pandemic.
Krispy Kreme opened its first store in North Carolina in 1937 when it began selling donuts in local grocery stores. It first went public in 2000, but its unit had to file for Chapter 11 bankruptcy in 2005.
The company sold 1.3 billion donuts in 30 countries in fiscal 2020, with net sales of 1, $ 1 billion, the highest sales in the brand’s history.
The IPO would mark the return of Krispy Kreme to the US stock exchanges, five years after it was sold by JAB Holding in 2016 with a 1.35 billion dollar Dollar deal has been privatized. JPMorgan, Morgan Stanley, BofA Securities and Citigroup are the leading book-running managers for the offering. It intends to trade on the Nasdaq under the ticker « DNUT ».
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