GYG floats, Trump sinks
While the world's attention was focused on the conviction of Donald Trump, another New Yorker pushed forward with what will be one of the most closely watched IPO's in Australia for years.
A brash New York businessman is about to face the sternest public test of his career so far.
No, we are not referring to Donald J Trump, who by now you probably know has become the first US president in history to be convicted of a crime. Instead, we are talking about Guzman y Gomez founder Steven Marks, an American expat entrepreneur who is about to steer his $2 billion burrito chain onto the ASX boards.
The better part of two decades on from its founding in 2006 (when Trump was still on The Apprentice), Guzman y Gomez confirmed plans today to list on the ASX in July one of the most closely watched IPO's in Australia for years.
Barrenjoey and Morgan Stanley will be joint lead underwriting managers and Gilbert + Tobin will provide legal advice for the deal, in which Guzman will seek to raise $200 million in fresh capital and sell $42.5 million in existing shares, valuing the company at $2.2 billion.
