Jersey Mike's IPO Targets $8B Valuation, Blackstone to Retain Control
BX sits 24% above its 52-week low of $101.73.
Summary
Jersey Mike's, majority-owned by Blackstone, set IPO terms that could value the sandwich chain at nearly $8 billion. The offering includes 13.8 million new shares at $21-$25 each, with existing investors selling another 29.7 million shares. Blackstone will retain about two-thirds of voting power post-IPO, signaling continued control. This follows Blackstone's 2025 acquisition of Jersey Mike's at a similar valuation, and the IPO could unlock significant value for the private equity giant. The listing on NYSE under ticker JMKE provides a liquidity event and potential upside if demand is strong.
At the time of this announcement, BX was trading at $126.63 on NYSE in the Finance sector, with a market capitalization of approximately $155B. The 52-week trading range was $101.73 to $190.09. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.