Krispy Kreme made its return to the public markets on Thursday after five years away.
Krispy Kreme shares rose more than 17% despite a disappointing opening trade for the company’s return to the public markets. On Wednesday night, the doughnut chain priced its initial public offering at $17 per share, well below its planned range of $21 to $24 per share. The stock’s first trade on Thursday afternoon was $16.30 per share, but shares quickly rebounded. The share offering raised $500 million for the company and gave it an implied valuation of $2.7 billion. Krispy Kreme, which also owns Insomnia Cookies, is trading on the Nasdaq under the ticker „DNUT.
