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SRX Global (SRXH) reported Thursday it acquired shares in the initial public offering of Jersey Mike's Subs (JMKE), a restaurant franchisor in the US and Canada.Jersey Mike's priced its Class A shares at $23.00 per share in the IPO for a total valuation of $1 billion, it said. The shares began trading on the New York Stock Exchange Thursday.Price: $1.59, Change: $+0.14, Percent Change: +9.66%
The initial public offering for Blackstone-backed (BX) Jersey Mike's Subs (JMKE) drew about 15 times the orders for the shares available, Bloomberg reported Thursday, citing people familiar with the matter.Roughly 20% of the accounts placing orders for Jersey Mike's received zero shares, the people reportedly said.The company didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $127.84, Change: $-1.57, Percent Change: -1.21%
