Guzman y Gomez to list on ASX
Company raising $225 million in IPO
Conditional and deferred settlement approved
Guzman y Gomez is expected to list on the Australian Securities Exchange (ASX) on June 20, 2024, with a market capitalization of $2.2 billion. The company is aiming to raise approximately $242.5 million in the ASX IPO by selling 111 million GYG shares at a price of $2.20 per share.
The primary proceeds from the IPO will be used to reduce debt and fund growth initiatives. Guzman y Gomez is a leading Mexican-inspired fast-casual restaurant chain with over 150 restaurants across Australia, New Zealand, and Singapore.
The company's IPO was initially expected to raise $335 million, but the offer was upsized due to strong demand from investors. Guzman y Gomez will have a conditional and deferred settlement, which means that the shares will not be fully paid for until a later date.
The IPO is being led by UBS and Barrenjoey, with Credit Suisse and Morgans acting as joint lead managers. Guzman y Gomez is expected to list on the ASX with the ticker code GYG.
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