Mexican fast-food chain Guzman y Gomez has clinched its place as the hottest float on the stock market in years, with the burrito maker’s market value soaring more than $3 billion as it started trading on Thursday.
“It’s very emotional, and we’ve been working so hard for 20 years, and the values and culture is so strong, and we’re building this amazing business, and hopefully, you can see that today.” He retained all of his 8.81 million shares, which are worth more than $264 million based on the $30 debut float price.
The proceeds of the float will go towards boosting the Mexican chain’s growth in Australia. It hopes to open 30 new restaurants in the 2025 financial year and eventually have more than 1000 restaurants in the next 20 years, which would put it on par with McDonald’s.“Obviously, we can’t choose if people buy or sell,” he said. “We just got to run our business and make sure that you know, as a senior leadership team, that we deliver strategy.
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