Adds details of IPO plan from second paragraph

By Scott Murdoch

SYDNEY, May 31 (Reuters) - Australian fast food chain Guzman y Gomez (GYG) is aiming to raise A$242.5 million ($160.75 million) in a June initial public offering, according to a company statement on Friday.

The company will sell 11.1 million shares at A$22 each which will value the food chain that specialises in Mexican food at A$2.2 billion.

The deal will be made up of A$200 million in primary proceeds and A$42.5 million from a secondary selldown from some existing shareholders.

GYG began in Sydney in 2006 and now has more than 200 restaurants globally, according to its website.

The company said some of its existing investors led by Aware Super, Cooper Investors, Hyperion Asset Management, Firetrail Investments and QVG Capital would participate in the IPO.

Institutional shareholders TDM Growth Partners and Barrenjoey Private Capital will remain on the share registry after the IPO.

GYG's board, senior management and existing major shareholders will represent about 62% of the company's issued capital on a fully diluted basis after the IPO, the company said.

GYG shares will start trading on the Australian Securities Exchange on June 20.

($1 = 1.5085 Australian dollars)

(Reporting by Scott Murdoch; Editing by Christopher Cushing and Muralikumar Anantharaman)

((Scott.Murdoch@thomsonreuters.com;))