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Jersey Mike's has begun a road show for its proposed initial public offering that values the chain at approximately $1 billion, the company said Monday.
The sandwich chain expects to offer 43,478,261 shares of Class A common stock between $21 to $25 per share. At this price, Jersey Mike's could raise between $913 million and nearly $1.1 billion.
Jersey Mike's could secure the largest restaurant industry IPO of the past 20 years, far outpricing Krispy Kreme's $500 million IPO in 2021, according to data from Aaron Allen & Associates.
Jersey Mike's said it would list its Class A common stock on the New York Stock Exchange under the ticker symbol JMKE. The company did not say when it would begin trading.
The chain has posted same-store sales growth for 20 consecutive years. The fast casual sandwich chain has been on a rapid growth tear over the past five years, with sales rising at a compound annual growth rate of 18% from 2021 to 2025.
Jersey Mike's IPO reflects growing investor appetite for restaurants
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