The exterior of Guzman Gomez’s Mexican Kitchen in Port Macquarie, Australia on June 13, 2024.
James D. Morgan | James D. Morgan Getty Images News | Getty Images
Mexican-themed fast-food chain Guzman y Gomez performed well on the ASX on Thursday, with its share price soaring 39.1 per cent.
Based on the initial public offering price of A$22 per share, the company was valued at A$2.23 billion (US$1.49 billion), and its share price rose to a maximum of A$30.28 after the listing.
As of 1:47 pm Sydney time, the stock’s gains fell slightly to around A$30, up 36.36%.
Guzmán Gomez, the first IPO announced on May 31 The issuance size is 11.1 million shares, Expanded to 15.3 million share, Raised A$335.1 million. The company said it had received commitments from funds recommended 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.
According to Bloomberg, Guzman y Gomez’s IPO is Australia’s largest initial public offering since chemicals distributor Redox’s offering in July 2023 and the fourth in the past two years to exceed $100 million.
Barronjoy and Morgan Stanley were joint bookrunners on Guzmán Gomez’s initial public offering.
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