SYDNEY - After two years in deep freeze, Australian investors will be looking for signs the initial public offerings market is thawing as fast-growing Mexican restaurant chain Guzman Y Gomez serves up the country's biggest IPO in 11 months.
Australian listings collapsed after a record 2021 as pandemic stimulus payments ended and the central bank raised interest rates to slow inflation. In 2024 so far, Australia has raised just A$98 million in IPOs, the second-lowest June half in more than a decade, according to LSEG data. A prospectus filed in May generated rolling headlines about GYG's target of opening at least 30 stores per year from 183 in Australia currently - a rate it has achieved just once, in 2023 - and about its omission of store lease liabilities and share-based payments from earnings projections.
"The restaurant space is highly competitive. Switching costs are nonexistent for patrons and barriers to entry are relatively low."
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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