Investors and employees at Mexican fast-food chain Guzman y Gomez celebrated as the company made its debut on the Australian Securities Exchange (ASX), reaching a market value of more than $3 billion. The stock price surged more than 36% above its initial offering, closing at $30. This makes it the hottest float on the ASX in three years.
The successful debut of Guzman y Gomez on the ASX signals a strong interest in the fast-food industry and its potential for growth. This milestone is a testament to the company’s performance and the confidence of investors in its future prospects.
In other news, the reign of the Toyota Corolla as the world’s best-selling car has come to an end.
