Jersey Mike's (JMKE.US)'s IPO price is 21-25 US dollars/share and is expected to become the ninth largest restaurant company in the US by market capitalization

The Zhitong Finance App learned that Jersey Mike's Subs (JMKE.US), a sandwich chain brand supported by Blackstone, announced on Monday that it has launched its initial public offering (IPO) roadshow to issue 43,478,261 Class A common shares. These shares will be sold by the company and some shareholders. The company expects the IPO pricing range of $21.00 to $25.00 per share.

Additionally, the selling shareholders are expected to grant the underwriter a 30-day option to purchase up to 6,521,739 additional Class A common shares of the company at the IPO price (net of underwriting discounts and commissions).

Based on the high end of the IPO pricing range, Jersey Mike's will raise nearly 1.09 billion US dollars, with a market capitalization of more than 12 billion US dollars. This will make it the ninth-largest restaurant company in the US by market capitalization, slightly higher than CAVA Group (CAVA.US) and Dutch Bros (BROS.US).

This sandwich chain has over 3,300 stores in the US and several stores in Canada. In fiscal year 2025, the company's revenue exceeded 4 billion US dollars (including franchised stores) and net profit reached 55 million US dollars. Last year, Jersey Mike's achieved same-store sales growth and a net increase of more than 250 stores. It's worth mentioning that according to the US Customer Satisfaction Index, Jersey Mike's has surpassed Chick-fil-A (Chick-fil-A) to become the highest-rated fast food brand.

The company, headquartered in Tinton Falls, New Jersey, dates back to 1956 and is widely regarded as one of the fastest-growing fast food brands. More importantly, consumer surveys show that the brand has a high level of popularity and a good reputation.

Looking ahead, Jersey Mike's announced that it will vigorously promote international expansion, sign a franchise agreement, and open 400 stores in the UK and Ireland as part of its global expansion strategy. Jersey Mike's IPO is expected to provide financial support for international expansion while providing investors with the opportunity to participate in a large-scale franchise circuit. This business model can generate stable royalty income and has the advantage of being asset-light.

According to reports, Jersey Mike's plans to be listed on the New York Stock Exchange, with the stock code “JMKE”. The lineup of joint bookkeepers for this IPO is huge, including Morgan Stanley, Jefferies, J.P. Morgan Chase, Barclays, Guggenheim Securities, Bank of America Securities, Goldman Sachs, etc.