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Mexican Fast-Food Chain – Guzman Y Gomez soars to $3B debut.

Mexican Fast-Food Chain – Guzman Y Gomez soars to $3B debut. 

Guzman Y Gomez (ASX: GYG) delivered Australia's best initial public offering debut in three years with its shares leaping more than one-third on their first trading day on Thursday 20 June 2024, sending much needed positive investor sentiment across trading floors. 

The stock value surged to $3 billion on debut, with GYG shares finishing trade at $30.01 a stock, an increase of $36.4 % of what the company had expected, with the initial listing price of $22.00 per stock

It was the biggest first-day gain by a large Australian company since 2021 and the country's third-best performing IPO in five years.

This is a big milestone for all of us, and it’s truly just the beginning,” GYG’s co-chief executive and co-founder Steven Marks said at the IPO ceremony at the Australian Securities Exchange in Sydney.

The share price surge on Thursday sends a hopeful signal about broader sentiment after high interest rates and inflation squashed demand through 2022 and 2023.

GYG has 210 stores across four countries, including 185 in Australia. Between FY15 and FY23, its global network sales increased from $101 million to $759 million and is expected to reach $1,138 million by FY25.