Jersey Mike’s is heading to the public markets with a valuation that far outstrips recent restaurant IPOs, setting up a key test of investor appetite for high-growth franchise chains.
The New Jersey-based sandwich chain announced Monday that it has begun its IPO roadshow. The company plans to offer 43.5 million Class A shares at an expected price of $21 to $25 per share, raising approximately $913 million to $1.1 billion from newly issued and existing shares.
