Jersey Mike's Targets $1.09 Billion US IPO as Blackstone and ADIA Sell 29.7 Million Shares
Updated
Updated · Bloomberg · Jul 20
Jersey Mike's Targets $1.09 Billion US IPO as Blackstone and ADIA Sell 29.7 Million Shares
2 articles · Updated · Bloomberg · Jul 20
Summary
$1.09 billion is the maximum Jersey Mike’s and its shareholders aim to raise in a US IPO, marketing about 43.5 million shares at $21 to $25 each.
29.7 million of those shares will come from existing holders including Blackstone and the Abu Dhabi Investment Authority, making the deal partly a shareholder sell-down.
The Tinton Falls, New Jersey-based sandwich chain is tapping a broader rebound in US listings, with consumer-facing companies returning to the market.
A related UK retail offer launched through Marex targets 43.4 million shares, with the sale set to close July 28 and NYSE trading expected to begin July 30.