Doughnut-chain Krispy Kreme files for initial public offering

American doughnut and coffee chain Krispy Kreme on Tuesday shared that it has confidentially filed paperwork related to a public offering of its stock with the Securities and Exchange Commission.

The number of shares that will be offered and their price range has not been determined, the company said, adding that the IPO is expected to happen after the SEC completes its review, reported CNN.

Krispy Kreme is also working to remodel its stores in recent years and has also opened lavish locations offering its wide-variety of menu.

It also opened a 4,500-square-foot store in New York City's Time Square with a glaze waterfall, a 24-hour street-side pickup window, exclusive merchandise and a doughnut-making theater that produces 4,560 doughnuts an hour.

Last month it also announced that customers who have been vaccinated against Covid-19 can get a free doughnut each day through the end of the year.

Krispy Kreme was purchased by JAB Holding Company, a private firm that invests in food and beverage brands in 2016.