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Guzman y Gomez Shares Surge 39% on ASX Debut After $223 Million IPO in 2024

Jun 20, 2024, 03:53 AM

Guzman y Gomez, a Mexican-themed fast-food chain, made a significant debut on the Australian Securities Exchange (ASX) following its $223 million IPO. The company’s shares surged by as much as 39% on the first day of trading, marking Australia's biggest IPO in almost a year. This surge increased the company's value to over $3 billion, with shares trading above $30, approximately 36% higher than initial predictions. The IPO is seen as a potential turning point for Australia's market, reflecting strong investor confidence in the fast-food sector. The shares jumped 38% on its trading debut in 2024.