The big piece of ASX news last week (and arguably in 2024 to date) was the successful initial public offering (IPO) of Guzman y Gomez Ltd (ASX: GYG). Guzman stock floated on the ASX last Thursday, hitting the ASX boards at $22 a share.
Well, that $22 price didn't last long. Within minutes of the company beginning its ASX listing, Guzman shares had topped $30 each, reaching a high of $30.99 on Thursday afternoon.
That euphoria has since died off a little, but at the time of writing, Guzan shares are still trading at $28.78 each, a good 30.8% or so above the company's IPO price.
It goes without saying that Guzman y Gomez shares' ASX debut has been a roaring success for the company's founder, senior management, and early investors.
But exactly how successful has it been?
How rich are Guzman y Gomez's founders post-IPO?
Well, last week, my Fool colleague Mitchell went through Guzman's largest shareholders after the company went public.
Its two largest shareholders are early investors TDM Growth Partners and Barrenjoey Capital. Other significant investors include Aware Super, Gaetano Russo, former board member Stephen Jermyn, and Richard and Kate Bell.
But Guzman's co-founders Steven Marks (also currently Guzman's co-CEO) and Robert Hazan (retired) both remain significant shareholders of the company. Marks currently owns 7,507,250 shares, or 7.41% of the company, through the Marks family's Evan Jason Pty Ltd. He also owns another 1,212,000 shares, or 1.2%, in his own name.
Meanwhile, Hazan owns 4,527,500 shares through his family company RBH Pty Ltd. That's worth 4.47% of Guzman's outstanding shares.
When Guzman IPOed at $22 a share, this would have valued Marks' Evan Jason stake in the company at approximately $165.16 million, plus his own shares at $26.66 million. Hazan's stake would have been worth $99.61 million.
But at today's pricing following the successful IPO, Marks would now have a stake worth a whopping $250.94 million (combined). Not a bad return for a few days.
Hazan, in turn, would be sitting on a fortune valued at roughly $130.3 million right now.
Of course, most of these founders' shareholdings are now under a voluntary escrow period. 25% of the co-founders' shares will remain escrowed until Guzman releases its earnings results for the first half of the 2025 financial year, provided the shares are trading at least 20% above the company's IPO price of $22.
The remaining shares will be escrowed until the company releases its results for the full 2025 financial year, which will end on 30 June 2025.
So Marks and Hazan can't exactly take advantage of the company's explosive IPO results right now. But even so, both will undoubtedly be walking with a spring in their steps today.
