Mexican Fast Food Chain Stuns on Listing Debut

Mexican-themed fast food restaurant chain Guzman y Gomez has stunned on its debut on the Australian Stock Exchange (ASX), surging 36 percent on the market on its first day of trade. The company joined the ASX at 12 p.m. on June 20 with an initial public offering price (IPO) of $22 per share. By the close of trade, Guzman y Gomez’s shares had rocketed by 36 percent to $30, and the company is now worth more than $3 billion. The listing has been dubbed by investors as the biggest public offering on the Australian market in three years. Guzman y Gomez opened its first restaurant in Sydney in 2006 and has now increased its network to 210 restaurants globally (pdf)....