An outside view of Guzman Y Gomez’s Mexican Kitchen on June 13, 2024 in Port Macquarie, Australia.
james d. Morgan | Getty Images News | Getty Images
Mexican-themed fast food chain Guzman y Gomez made a stellar debut on the Australian Stock Exchange on Thursday, with its shares rising as much as 39.1%.
The company, which was valued at A$2.23 billion (US$1.49 billion) based on its initial public offering price of A$22 per share, saw its shares rise to A$30.28 on its debut.
Shares pared gains slightly to trade at around A$30, up 36.36%, as of 1:47pm Sydney time.
Guzman and Gomez, whichever comes first It announced its initial public offering on May 31 The offering size is 11.1 million shares Raising it to 15.3 million Involved, Raised A$335.1 million. The company said it had received a commitment from funds advised by Capital Research Global Investors to subscribe for its shares.
The company operates more than 200 restaurants in Australia, Singapore, Japan and the United States, according to its website.
Guzman y Gomez’s IPO is the largest in Australia since chemicals distributor Redox in July 2023 and the fourth IPO of more than $100 million in the past two years, according to Bloomberg.
Barenjoy and Morgan Stanley were joint bookrunners for Guzman y Gomez’s IPO.
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