Guzman y Gomez (“GYG” or the Company) announced that it has received a commitment from one or more funds advised by Capital Research Global Investors to subscribe for Shares at the Offer Price. The offer price is expected to be $22 per share with a market capitalistion at offer price of~$2.2B AUD.
Because of this, the IPO Offer size has been increased from$242.5 million to $335.1 million, reflecting an additional selldown of $92.6million. The primary proceeds raised under this Offer remain unchanged at $200million.
GYG will today lodge a replacement Prospectus with ASIC reflecting the increase in the IPO Offer size and other minor changes which will also include updates to the timetable.
Primary proceeds of the Offer will be used to fund GYG’s growth strategy over the coming years, primarily focused on the significant expansion of its corporate restaurant network in Australia. The proceeds of the Offer will also provide substantial flexibility to accelerate this strategy if appropriate opportunities arise.
The Offer comprises:
The Institutional Offer, which consists of an offer to Institutional Investors in Australia and certain other jurisdictions around the world;
The Retail Offer,which consists of:
o Broker Firm Offer, which is open to Australian and New Zealand resident retail clients of Brokers who have received a firm allocation of Shares from their Broker
o Priority Offer, which is open to Eligible GYG Shareholders and select investors in Australia and New Zealand who have received a Priority Offer Invitation
o Employee Offer, which is open to Eligible Employees of the Company, who are residents in Australia
o Franchisee Offer1 , which is open to Eligible Franchisees,who are residents in Australia and other eligible jurisdictions in the Company’s discretion.
There is no general public offer. The Offer is underwritten by Barrenjoey Markets Pty Limited (“Barrenjoey”) and Morgan Stanley Australia Securities Limited (“Morgan Stanley”) (together, the “Joint Lead Managers”).
For further information, see https://www.gyg.automicgroup.com.au/
