Jersey Mike’s Subs Inc. launches its initial public offering after beginning a roadshow, as consumer-focused companies return to U.S. equity listings. The company and existing shareholders aim to raise as much as $1.09 billion, with reporting describing an offering of roughly 43.4–43.5 million Class A shares. Multiple outlets say investor demand during the process exceeds the number of shares available by more than 10 times. Pricing occurs after the roadshow, with Jersey Mike’s setting the IPO price at $23 per share, below the previously cited expected range of $21 to $25. That pricing values the company at about $7.3 billion, putting the IPO among the larger restaurant listings in recent years. After the debut, at least one outlet reports the stock falls about 2% in early trading, while other coverage highlights the proceeds and overall size of the transaction. The company is expected to trade on the New York Stock Exchange under the ticker “JMKE.” The IPO listing follows Jersey Mike’s growth in store count over several decades and a franchise model described as diversified across hundreds of franchise owners.
Jersey Mike’s prices IPO at $23, raising about $1 billion and valuing company around $7.3B
Jersey Mike’s Subs Inc. launches its initial public offering after beginning a roadshow, as consumer-focused companies return to U.S. equity listings. The company and existing shareholders aim to rais...
- Jersey Mike’s begins an IPO roadshow and seeks to raise up to about $1.09 billion.
- The offering includes about 43.4–43.5 million Class A shares and is widely reported as more than 10x oversubscribed.
- Jersey Mike’s prices the IPO at $23 per share, within a previously discussed $21–$25 target range.
- The IPO values the company at about $7.3 billion (with some reporting citing a valuation near $8 billion at the top of the range).
- The shares trade on the NYSE under the ticker “JMKE,” and one outlet reports the stock drops about 2% at the start of trading.
The sandwich chain's IPO was more than 10 times oversubscribed.
1 month agoJersey Mike’s Subs Inc. shares slumped 8.7% in their trading debut Thursday, after the company and some of its shareholders raised $1 billion in a US initial public offering that priced at the midpoint of its marketed range.
1 month agoThe sandwich chain sold 43.5 million shares at $23 each, valuing the company at $7.3 billion in one of the largest restaurant IPOs on record
1 month agoJersey Mike's priced its initial public offering at $23 per share.
1 month ago
US House advances Russia sanctions bill that could allow up to 100% tariffs on India
The US House of Representatives advances legislation that would allow President Donald Trump to impose tariffs of up to...
Central banks weigh further rate hikes as inflation remains a focus
Central banks in the United States, Europe and Japan are already tightening monetary policy, and attention is turning to...
Canada reportedly hires Morgan Stanley and CIBC for airport concession sale mandate
Canada’s government is reportedly assigning major investment-bank roles in connection with a sale of Canadian airport co...