largest shareholder bought even more shares when the donut garland went public earlier this month.
Krispy Kreme (ticker: DNUT) stock rose in its latest IPO earlier this month. The company went public two decades ago, but global investment firm JAB Holding took Krispy Kreme private in 2016.
A subsidiary of JAB Holding paid $94.3 million on July 6 for 5.9 million Krispy Kreme shares at $16.02 each, purchased from the underwriters of the IPO. According to a JAB Holding filing with the Securities and Exchange Commission, the company now owns 68 million Krispy Kreme shares and remains the largest shareholder of the donut maker.
Before the share purchase, JAB Holding owned 62.1 million shares, an interest of 38.6%.
Krispy Kreme chairman Olivier Goudet, who is also the managing partner and CEO of JAB Holding, also bought more shares. He paid $4.7 million on July 6 for 294,118 Krispy Kreme shares, also from the insurers. Goudet, chairman of Krispy Kreme since May 2017, bought the shares through an investment vehicle that now owns 1.4 million shares. Goudet also owns 529,149 Krispy Kreme shares in a personal account.
JAB Holding and Goudet had expressed interest in buying more Krispy Kreme shares in roughly those amounts, according to the company’s regulatory filings ahead of its IPO.
JAB Holding and Goudet declined to comment on the share purchases.
Inside Scoop is a regular Barron article about stock transactions by corporate leaders and board members – so-called insiders – as well as major shareholders, politicians and other prominent figures. Because of their insider status, these investors are required to disclose stock transactions to the Securities and Exchange Commission or other regulatory groups.
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