this is super expensive but you can't help be cynical at the way...

this is super expensive but you can't help be cynical at the way barrenjoey and tdm have set this deal up

tiny amount of new shares offered, ensuring a huge oversubscription
short road show giving fundies a dose of FOMO
TDM increasing its selling stake into the IPO
questionable EBITDA comparisons to listed peers
using mcdonalds store footprint in Aus as a proxy for a mature GYG (really?)

in saying that, it's probably going to have a huge first couple of days just based on the tiny amount of free float and huge retail hype

would i want to be holding it at the first earnings update? hell no