Blackstone-owned Jersey Mike’s files for IPO at up to $12bn valuation

Jersey Mike’s, the sandwich chain owned by Blackstone, has taken a big step toward going public, aiming for an IPO with a valuation of up to $12 billion. This move comes as Blackstone seeks to capitalize on the current robust public markets and potentially return significant capital to its investors. The decision underscores the ongoing trend of private equity firms looking to monetize their investments through public offerings, highlighting the broader dynamics of market confidence and investor appetite. This could signal a wave of similar moves by other private equity-backed companies eyeing a return to public ownership.