Investing.com -- Jersey Mike's Subs announced Monday it plans to raise up to $1.09 billion through an initial public offering in the United States.

The sandwich chain plans to sell 13,782,609 shares of Class A common stock, while selling stockholders will offer 29,695,652 shares of Class A common stock. The company has set an expected initial public offering price range between $21.00 and $25.00 per share.

The chain, which specializes in submarine sandwiches, began in 1956 when Peter Cancro started working at the Point Pleasant, New Jersey location, which was originally founded as Mike's Subs.

Jersey Mike's has applied to list on the New York Stock Exchange under the ticker symbol "JMKE."

Morgan Stanley, Jefferies, and J.P. Morgan will serve as global coordinators and joint bookrunning managers for the offering. Barclays and Guggenheim Securities will act as co-global coordinators and joint bookrunning managers.

The IPO comes as the US market for new listings recovered in the second quarter, with companies from various sectors pursuing New York listings after a brief slowdown caused by the US-Iran conflict.