An external view of the Guzman Y Gomez Mexican Kitchen on June 13, 2024 in Port Macquarie, Australia.
James D. Morgan | Getty Perceptions News | Getty Images
Mexican-themed fast-food chain Guzman y Gomez made a stellar debut on the Australian Investment Exchange on Thursday, with its shares soaring as much as 39.1%.
The company, which was valued at 2.23 billion Australian dollars ($1.49 billion) based on its beginning public offering price of AU$22 per share, saw shares rise to as high as AU$30.28 on debut.
Shares pared advances slightly to trade at about AU$30, up 36.36%, as of 1:47 p.m. Sydney time.
Guzman y Gomez, which first published its IPO on May 31 with an offer size of 11.1 million shares, upsized it to 15.3 million shares, raising AU$335.1 million. The presence said it had received a commitment from funds advised by Capital Research Global Investors for subscribing its shares.
The proprietorship operates more than 200 restaurants in Australia, Singapore, Japan, and the United States, according to its website.
Guzman y Gomez’s IPO is Australia’s largest since chemical distributor Redox’s oblation in July 2023 and the fourth offering above $100 million in the past two years, according to Bloomberg.
Barrenjoey and Morgan Stanley were the cooperative bookrunners for Guzman y Gomez’s IPO.