Marex, via its Winterflood division, is offering retail investors access to the Jersey Mike’s (JMKE) initial public offering (IPO).
Jersey Mike’s is floating 43,478,261 shares on the New York Stock Exchange at a price of $23 per share. Jersey Mike’s Subs is a restaurant franchisor with more than 3,300 locations across the United States and Canada.
Winterflood, using the Winterflood Retail Access Platform, enabled UK investors to participate in the IPO, and 75% of investors have received their full allocation according to the company
Joe Winkley, Head of Corporate Services at Winterflood, noted that this is the second retail offer under the POP regime following SpaceX’s in June, which Winterflood also facilitated.
Once purchased, shares can be traded just like any other.
The UK Public Offer Platform (POP) regime is new, having formally launched earlier this year. This is an FCA-authorised structure to provide investors with an IPO without a UK prospectus. Other UK retail platforms participated as intermediaries that gave their customers access, but they were not a POP operator. Other platforms may apply to operate a POP, including securities crowdfunding platforms. Crowdcube is known to have submitted an application to the FCA.
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