Guzman y Gomez shares surged 36 per cent to $30 on their first day of trade as investors piled into the biggest local float in the past three years, one that local bankers, brokers and fund managers hope will signal signs of life in a long-moribund market for listings.
The Mexican-themed restaurant was worth $3 billion by the end of its first day on the ASX, up from the $2.2 billion valuation at which it was offered to prospective investors. The shares rose $8 on the offer price, ballooning the wealth of the company’s founder, former Wall Street hedge fund trader Steven Marks, and its long-time shareholders.
Loading...
Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
