Jersey Mike's IPO Opens Below Price, Raises Nearly $1 Billion
Jersey Mike's opened its initial public offering (IPO) on July 30, 2026, with shares falling below the expected price. The company priced each share at $23 but saw them open at $21, a drop of nearly 5.7%. Despite this decline, Jersey Mike’s raised approximately $913 million and was valued at $7.3 billion in its public debut on the New York Stock Exchange under ticker symbol 'JMKE'. The company is backed by Blackstone (BX) and Abu Dhabi Investment Authority. Jersey Mike's has experienced strong growth over recent years, with same-store sales increasing 50% from 2020 to 2025. In 2025 alone, systemwide sales rose 13%, reaching $4.3 billion. The chain plans significant expansion both domestically and internationally, aiming for a total of around 15,000 locations globally.
Topics: Blackstone initial public offering (IPO) restaurant industry stock market