A sovereign wealth fund of Abu Dhabi, United Arab Emirates
A set of IPO filings shows a Toronto-based mineral explorer and a New Jersey sub shop chain planning public offerings. The miner aims for about C$190 million in gross proceeds with selling shareholders targeting roughly C$173 million; Jersey Mike’s plans to list on the NYSE with a potential market value near $8 billion. Reformation is also filing for an IPO, targeting roughly $1 billion.
Jersey Mike’s is preparing to list on the New York Stock Exchange after a Blackstone-led deal values the chain at about $8 billion. The S-1 shows plans for rapid expansion to roughly 7,500 U.S. stores and up to 15,000 globally, with Canada and the U.K. & Ireland targeted. The menu is positioned as protein-forward, aligning with demand for GLP-1 weight-loss drugs.
Public market debut of Jersey Mike’s raises about $1 billion at a $7.3 billion valuation. Blackstone introduces broad employee ownership for corporate staff, while franchisees and store workers remain ineligible. Reformation mirrors a cautious IPO environment with steady demand but muted first-day gains. The wave of private equity-backed listings shows resilience amid volatile markets.