Mexican Fast Food Chain Stuns on Listing Debut

Shares soared 36 percent to a market capitalisation of $3 billion on day one.

Guzman Y Gomez branding pre-game ahead of the round 14 Super Netball match between NSW Swifts and Adelaide Thunderbirds at Ken Rosewall Arena in Sydney, Australia on June 17, 2023. Jason McCawley/Getty Images

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.