The AFR View
Can big burritos save public markets?
We won’t know for many years whether Guzman y Gomez investors have overestimated Australian’s appetite for Mexican-themed restaurants.
Australia’s three-year initial public offering drought ended with a bang after Thursday’s spectacular listing of Guzman y Gomez on the Australian Stock Exchange.
Hitting the boards at noon, the Mexican-themed restaurant chain – which was founded by a former New York hedge fund trader, co-CEO Steve Marks, in grungy Newtown in inner Sydney in 2006 – surged to $30 on its first day of trading, $8 higher than the listing price of $22, and valuing the company at more than $3 billion.
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