How rich are the Guzman Y Gomez founders following the company's IPO?

Guzman's IPO has netted its co-founders millions…

| More on:
Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on IPOs

IPO written in dark blue with a yellow background.
Financial Shares

ASX fintech stock backed by Mastercard slumps 9% on debut

Meet the ASX's newest fintech company.

Read more »

IPO written in purple on blocks on top of each other in the air.
IPOs

ASX rare earths IPO stock crashes 42% on trading debut

This IPO has been a rough ride for investors...

Read more »

Modern accountant woman in a light business suit in modern green office with documents and laptop.
IPOs

What percentage of GYG shares are owned by the company founders?

Guzman's founders have done well from the company's IPO...

Read more »

Investor covering eyes in front of laptop
IPOs

Guzman y Gomez share price implodes 10% on ASX trading day 2

The Guzman Y Gomez share price is tumbling on Friday. But why?

Read more »

A happy investor sits at his desk in front of his laptop and does the mexican wave with his arms to celebrate the returns from his ASX dividend shares
IPOs

Who owns Guzman y Gomez shares?

Holy Guacamole! These investors have a lot of money in Guzman y Gomez shares.

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
IPOs

Guzman y Gomez shares rocket 36% on IPO day

The quick service restaurant operator is having a stunning first day on the ASX boards.

Read more »

Two children and a dog get set to launch their friend rocketing high into the sky.
IPOs

It's only a day until ASX investors can buy Guzman y Gomez shares

We're only one sleep away from the fast food company's ASX debut.

Read more »

A man casually dressed looks to the side in a pensive, thoughtful manner with one hand under his chin, holding a mobile phone in his hand while thinking about something.
IPOs

Is Guzman y Gomez stock too expensive?

Should you stay clear of this hot IPO?

Read more »