The glazed doughnut maker Krispy Kreme could be worth up to $4bn when it lists on the Nasdaq stock exchange later this year, according to a regulatory filing.
The company, which operates more than 1,000 stores around the world, is aiming to raise up to $640m via the initial public offering (IPO).
It will trade under the ticker symbol “DNUT”.
The floatation would see Krispy Kreme return to the US stock market after five years
Krispy Kreme has seen its revenue surge in the first quarter of 2021, as more people seek out sweet treats during the pandemic. A stock market filing from early June said that “almost all consumers desire an occasional indulgence”.
In the last financial year, the company sold 1.3 billion donuts across 30 countries, the highest number of sales in the brand’s history, with net revenues of $1.1bn.
The company has started to install stands in British supermarkets like Sainsbury’s and Asda
Now, the company is looking to pounce on a hot moment for public listings in the US.
The IPO market is currently experiencing frenzied levels of activity in America, with companies having raised around $171bn this year alone, according to data from Dealogic, surpassing last year’s record of $168bn.
The floatation would see Krispy Kreme return to the US stock market after five years, when it was taken private by JAB Holding in a $1.35bn deal in 2016.
The company has started to install stands in British supermarkets like Sainsbury’s and Asda, where it hopes to target repeat customers. But Krispy Kreme also acknowledged in its regulatory filings that its success as a public company could be hampered by the broader trend of people moving towards more healthy food.