New investors will own 45 per cent of the 28-year old, Toowoomba-based construction materials and new generation building products company after subscribing for 72.6 million shares at $2.71 raising about $197 million.
Wagners Holding Company has an indicative market capitalisation of $437 million at the offer price of $2.71.
Funds raised under the offer have increased the Company’s financial flexibility to capitalise on growth opportunities both nationally and overseas
Wagners’ Chairman Denis Wagner said the company is very excited to welcome a more diverse group of shareholders to the business.
“We’ve gone to market so we can access different streams of capital to further enhance the growth opportunities for the Company,” said Mr Wagner.
“The listing will enhance our ability to take our Composite Fibre Technology products and our Earth Friendly Concrete technology to the world.”
Wagners Holding Company grew out of a small pre-mix concrete supply operation that started in Toowoomba in 1989.
The company is the largest independently-owned cement manufacturer and supplier in South East Queensland, supplying about one third of the market’s cement requirements.
Wagners manufactures composite bridges and cross arms at their Toowoomba factory, selling them throughout Australia, and exporting to New Zealand, Asia and USA.
“We intend to keep innovating and providing our clients with effective solutions for their projects. We will continue to deliver high quality products and good customer service,” said Mr Wagner.
Readers also enjoyed this story about Queensland Platinum Broker Award recipient Peter May Group.