Krispy Kreme falls short of IPO goal, raises US$500mil

Below target: Doughnuts being sold at a Krispy Kreme store in Chicago, Illinois. The chain is valued in the listing at US$2.78bil.

NEW YORK: Krispy Kreme Inc priced its US initial public offering (IPO) below a marketed range to raise US$500mil (RM2bil), short of the US$640mil (RM2.7bil) it had sought.

The company said in a statement that it sold more than 29 million shares for US$17 (RM70.60) each.