An exterior watch of the Guzman Y Gomez Mexican Kitchen area on June 13, 2024 in Port Macquarie, Australia.
James D. Morgan | Getty Pictures Information | Getty Illustrations or photos
Mexican-themed fast-food chain Guzman y Gomez designed a stellar debut on the Australian Stock Exchange on Thursday, with its shares soaring as a great deal as 39.1%.
The organization, which was valued at 2.23 billion Australian bucks ($1.49 billion) centered on its preliminary public offering selling price of AU$22 per share, noticed shares increase to as higher as AU$30.28 on debut.
Shares pared gains a bit to trade at about AU$30, up 36.36%, as of 1:47 p.m. Sydney time.
Guzman y Gomez, which to start with introduced its IPO on May possibly 31 with an present measurement of 11.1 million shares, upsized it to 15.3 million shares, elevating AU$335.1 million. The enterprise reported it experienced received a motivation from money suggested by Funds Investigate Worldwide Traders for subscribing its shares.
The business operates more than 200 places to eat in Australia, Singapore, Japan, and the United States, in accordance to its website.
Guzman y Gomez’s IPO is Australia’s greatest since chemical distributor Redox’s giving in July 2023 and the fourth supplying above $100 million in the previous two a long time, according to Bloomberg.
Barrenjoey and Morgan Stanley ended up the joint bookrunners for Guzman y Gomez’s IPO.