Jersey Mike’s Said to Tap Banks for $1 Billion-Plus US IPO (1)

Jersey Mike’s Subs, the sandwich chain with more than 3,000 locations, is working with Morgan Stanley, JPMorgan Chase & Co., and Jefferies Financial Group Inc. on an initial public offering, according to people familiar with the matter.

The Blackstone Inc.-backed company is seeking to complete a first-time share sale as soon as the third quarter of this year, the people said, asking not to be identified as the information is private.

Jersey Mike’s is seeking a valuation of at least $12 billion and the IPO is anticipated to raise more than $1 billion, the people said. Deliberations are ...