Jersey Mike’s IPO Said to Be More Than 10 Times Oversubscribed

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessJersey Mike's IPO Said to Be More Than 10 Times OversubscribedJersey Mike’s Subs Inc.’s initial public offering has attracted investor demand for more than 10 times the available shares ahead of pricing on Wednesday, according to people familiar with the matter.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Jersey Mike’s Subs Inc.’s initial public offering has attracted investor demand for more than 10 times the available shares ahead of pricing on Wednesday, according to people familiar with the matter.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe Blackstone Inc.-backed submarine sandwich chain and some of its shareholders are looking to raise as much as $1.09 billion in the offering. The IPO has drawn significant orders from long-only investors, the people said, asking not to be identified as the information isn’t public.A spokesperson for Jersey Mike’s didn’t immediately respond to a request for comment. A Blackstone spokesperson declined to comment.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe IPO consists of about 43.5 million shares for $21 to $25 each, according to a filing with the US Securities and Exchange Commission. That includes approximately 29.7 million shares offered by backers including Blackstone and Abu Dhabi Investment Authority.At the top of the range, Jersey Mike’s would have a market value of nearly $8 billion based on the outstanding shares listed in its filing. The listing is part of a nascent rebound in consumer debuts that includes womenswear firm Reformation Inc.’s IPO, which is also pricing Wednesday.Jersey Mike’s has more than 3,300 locations in the US and Canada. Blackstone agreed to buy a majority stake in the company in 2024 for about $8 billion including debt and completed the deal the following year. It has partnered with its founder and former Chief Executive Officer Peter Cancro to open approximately 300 stores in the UK and Ireland.Morgan Stanley, Jefferies Financial Group Inc. and JPMorgan Chase & Co. are leading the IPO. The shares are expected to begin trading on the New York Stock Exchange on July 30 under the symbol JMKE. 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