Australia's Guzman y Gomez plans big expansion after splashy IPO

SYDNEY -- Australian fast-food chain Guzman y Gomez, which recently listed on the Australian Securities Exchange and reached a market capitalization of 3 billion Australian dollars ($2 billion), plans to continue growing through ambitious expansion. But questions about its profitability linger.

"We're pleased to have listed on the ASX today. Whilst this is a significant milestone for GYG [Guzman y Gomez] we are still early in our mission to reinvent fast food and change masses eat," founder and co-CEO Steven Marks said on social media June 20, when the company listed on the Australian Securities Exchange.