Blackstone Inc. is preparing to take its sandwich chain, Jersey Mike's Subs, public with an IPO on the New York Stock Exchange. The company is expected to be valued at approximately $8 billion, with existing shareholders and the company itself selling up to $1.09 billion in stock. This move follows Blackstone's acquisition of a majority stake in Jersey Mike's for around $6 billion just 18 months ago, marking a significant return on investment and one of the largest IPOs in the US restaurant sector in recent years. AI
RANK_REASON Significant funding event with a major private equity firm taking a portfolio company public. [lever_c_demoted from significant: ic=1 ai=0.0]
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