Mexican-inspired fast food chain Guzman y Gomez will list on the Australian stock exchange after completing a $242.5 million offer - the second-biggest of the year.
The Sydney-headquartered chain founded in 2006 has 185 restaurants in Australia and plans to use the funds to open dozens more.
"As we commence the next chapter as an ASX-listed company, our vision to reinvent fast food and change the way the masses eat will remain central to what we do," founder and co-CEO Steven Marks said in a statement on Friday.
It aims to open 30 restaurants in Australia in 2024/25 and 40 more each year within five years, mostly drive-through operations.
Guzman y Gomez predicts earnings to grow from $29.3 million in 2023/23 to $59.9 million in 2024/25.
The $242.5 million initial public offer to institutional and some retail investors values Guzman y Gomez at $2.2 billion.
Some 11.1 million shares will be offered for sale at $22 each.
This will be the second-biggest float of 2024 after copper miner Metals Acquisition raised $325 million upon debut in February.
Guzman y Gomez, whose offer is being fully underwritten by investment firms Barrenjoey and Morgan Stanley, is expected to list on the stock exchange on June 20.
The company, which also has 16 restaurants in Singapore, five in Japan, and four in the US city of Chicago, wants to grow its operations to more than 1000 restaurants within the next 20 years.
