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On October 16, 2020, a guy walks past a Krispy Kreme “Hot Now” neon sign in Times Square, Manhattan, New York, United States. Carlo Allegri/File Photo/REUTERS 30 JUNE (Reuters) – During one of the busiest weeks for stock market debuts in the United States, doughnut giant Krispy Kreme priced its initial public offering considerably below the targeted range to raise $500 million, indicating a chilly welcome from investors. The company selected a price range of $21 to $24 per share for 29.4 million shares, which was lower than the previous range of $21 to $24. It was valued at $2.7 billion in the IPO. Krispy Kreme will begin trading during one of the busiest weeks for IPOs in the United States in 2021, with at least 17 firms set to debut. China’s Didi Global Inc (DIDI.N) debuted on Wednesday with a valuation of more than $68 billion at closure, making it the largest Chinese firm to list in the United States since 2014. find out more According to a previous filing, Krispy Kreme planned to sell around 26.7 million shares. At the top end of the spectrum, it would have raised $640 million on such conditions. find out more Krispy Kreme, famous for its glazed doughnuts, first opened its doors in North Carolina in 1937, when it began selling doughnuts in local grocery stores. It went public for the first time in 2000, but its unit had to apply for Chapter 11 bankruptcy protection in 2005. On Thursday, its shares will begin trading on Nasdaq under the name “DNUT.” The IPO will mark the doughnut chain’s return to the stock market after being taken private for $1.35 billion by JAB Holding Co five years ago. Niket Nishant contributed reporting from Bengaluru, while Sriraj Kalluvila and Devika Syamnath edited the piece. The Thomson Reuters Trust Principles are our standards./nRead More

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