Guzman y Gomez shares surged 36% on first day of trade

The brand closed closed trading at $30 a share.

Shares of Guzman y Gomez surged 36% to $30 on its first trading day.

The fast food chain ended its first day run at ASX to $3b, up from the initial $2.2b offered to investors.

The listing was considered the biggest first-day trading since 2021.

GYG initially announced the launch of its IPO valued at $2.2b with expected listing on the ASX on 20 June. After receiving a commitment from one or more funds advised by Capital Research Global Investors to subscribe for Shares at the Offer Price, the IPO size was increased by 38%.