Krispy Kreme is hoping to heat up the IPO market today when its stock debuts on the Nasdaq. What’s interesting about the initial public offering is that it’s actually the donut company’s second IPO.
Krispy Kreme originally debuted on the Nasdaq 21 years ago, in April 2000, when it traded under the ticker symbol KREM. However, by 2016, the company returned to private ownership. But like the best donuts, the best companies are circular, and as of today, Krispy Kreme is a public company again. Here’s what you need to know:
- What is Krispy Kreme’s new ticker symbol? Krispy Kreme will trade on the Nasdaq under the new ticket symbol DNUT. (Get it?) Its previous Nasdaq symbol was KREM.
- What is the IPO price? DNUT shares will be offered for $17 each, according to Reuters. That’s well below the $21 to $24 per share some expected.
- How many shares will be available? Krispy Kreme is making 29.4 million shares available for purchase. At $17 per share, Krispy Kreme would raise close to $500 million in its IPO.
- How much is Krispy Kreme worth? The company’s total valuation—if the $17 share price holds—would be around $2.7 billion.
- Should I buy Krispy Kreme shares or Krispy Kreme donuts? That’s a personal, potentially yummy, choice.
Krispy Kreme will be an interesting stock to track today because it’s one of the few companies that has ever gone public twice. Will its fortunes be better this time? Who knows? DNUT could either skyrocket or go down in a glaze of glory.