Blackstone-Backed Jersey Mike’s Falls 8.7% After $1 Billion IPO

Jersey Mike’s Subs Inc. shares slumped 8.7% in their trading debut Thursday, after the company and some of its shareholders raised $1 billion in a US initial public offering that...

By Janet Freund and Daniela Sirtori · Bloomberg Markets

Jersey Mike’s Subs Inc. shares slumped 8.7% in their trading debut Thursday, after the company and some of its shareholders raised $1 billion in a US initial public offering that priced at the midpoint of its marketed range.