Kraken Opens Jersey Mike’s IPO to Retail Investors Through 1:1 Tokenized Shares at Offering Price
Kraken is offering Jersey Mike’s IPO shares to retail investors through direct allocations priced at the initial offering level. The exchange is issuing tokenized equity contracts that each represent a 1:1 claim on the underlying stock once the ticker begins trading on the open market.
The sandwich chain is seeking to raise $1.1 billion at an $8 billion valuation, with demand reportedly exceeding available shares by more than 10 times. The platform will list the tokens under the symbols JMKE for US participants and JMKEx in 110 other countries, bypassing wealth and geography restrictions that have historically limited retail participation in primary equity sales.
From the sources (5 posts)
@stockmktnewzThe Jersey Mike's IPO is reportedly 10x oversubscribed
@exec_sumBREAKING: Jersey Mike's IPO is over 10x oversubscribed The Blackstone-backed sandwich chain is seeking to raise $1.1B at an $8B valuation
@businessJersey Mike’s IPO has attracted investor demand for more than 10 times the available shares ahead of pricing on Wednesday, according to people familiar with the matter
@cointelegraph⚡️ NEW: Kraken is opening the Jersey Mike’s IPO to retail investors through direct allocations and tokenized shares backed 1:1 by the underlying stock.
@krakenfxMost retail investors have been locked out of IPOs, gated by wealth or geography. Until now. Jersey Mike’s is going public. We’re giving you access at the offering price: US (JMKE), @xStocksFi, in 110+ countries