Guzman y Gomez launched its IPO in Australia, raising A$200 million and delivering a sharp first-day stock performance amid expansion plans.
Guzman y Gomez (GYG), a Sydney-based Mexican restaurant chain, made a soaring stock market debut down-under, marking Australia’s ‘best’ IPO for around three years.
The stock gained over 39% on its first day of dealing, hitting A$30.28 at one point and finishing trading day at $30.
Its IPO previously priced the new shares at $22 each, raising A$200 million for the themed restaurant firm to expand internationally.
The company operates more than 200 Guzman y Gomez fast-food outlets across Australia, Singapore, Japan, and the United States.
“We’re on a mission to reinvent fast food for the better, changing the way the masses eat one burrito at a time,” co-chief executive Steven marks says on the company’s investor website.
“Who said fast food has to be bad food!”
