Tortilla Mexican Grill PLC (AIM:MEX) shares got off to a fast start on their market debut on Friday, rising 15p to 196p.
The “fast-casual” Mexican restaurant group came to the market after placing shares at 181p a pop at the end of last month, raising £5mln for the company and £23mln for those existing shareholders that sold shares.
The restaurant group opened its first site in Islington, London in 2007 and now has 62 sites, including 52 in the UK, two of which are franchised to Select Service Partners UK Limited, and ten franchised sites in the Middle East. Tortilla offers customers eat-in, takeaway and click-and-collect options at its restaurants, and delivery through its exclusive partnership with Deliveroo in the UK.
“Joining AIM marks a very exciting milestone in Tortilla's growth journey and we're thrilled to be welcoming our new shareholders to the Tortilla family,” said Richard Morris, the chief executive officer of Tortilla.
“Underpinned by our fresh, high quality and great value food, as well as our multichannel order strategy, we are very excited to drive forward Tortilla's long-term growth strategy and achieve the Tortilla brand's significant potential across the UK and internationally," he added.