GYG IPO may be a turning point for Aussie market

GYG’s initial issue was closed to the public and largely involved selling shares to existing financiers and franchise owners. — Bloomberg

SYDNEY: After two years in deep freeze, Australian investors will be looking for signs the initial public offerings (IPOs) market is thawing as fast-growing Mexican restaurant chain Guzman Y Gomez (GYG) serves up the country’s biggest IPO in 11 months.

The Sydney startup puts up A$335.1mil (US$223.4mil) of new stock, about one-sixth of the company, for trading yesterday.