(Reuters) – Krispy Kreme Inc is looking to raise as much as $640 million through a U.S. initial public offering, according to a regulatory filing on Tuesday, valuing the donut chain at nearly $4 billion.
The company, known for its glazed donuts, plans to sell about 26.7 million shares priced between $21 and $24 per share, the filing showed. It intends to list on the Nasdaq under the ticker symbol “DNUT.
Krispy Kreme had confidentially filed with regulators in early May, which revealed a surge in revenue in the first quarter of 2021, driven by rising demand for sugary snacks during the pandemic.
It recorded its highest level of sales, at $1.1 billion, in fiscal 2020.
The offering would mark Krispy Kreme’s return to U.S. stock markets five years after it was taken private by JAB Holding Co in a $1.35 billion deal in 2016.
It first went public in 2000 but filed for Chapter 11 bankruptcy in 2005.
J.P. Morgan, Morgan Stanley, BofA Securities and Citigroup are the lead book-running managers for the offering.
(Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri)
