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Wagners Holding Co. Ltd. ( (AU:WGN) ) has shared an update.
Wagners Holding Company Limited has successfully completed a $30 million capital raising through a placement to sophisticated and professional investors, issuing 11,539,650 new shares at $2.60 each. The funds will primarily support growth strategies in their Construction Materials and Composite Fibre Technologies businesses, including expanding their concrete plant network in South-East Queensland and increasing manufacturing capacity for composite electrical distribution poles. This strategic capital allocation aims to enhance capacity and support future growth while maintaining a disciplined approach to return on capital and payback periods.
The most recent analyst rating on (AU:WGN) stock is a Buy with a A$2.75 price target. To see the full list of analyst forecasts on Wagners Holding Co. Ltd. stock, see the AU:WGN Stock Forecast page.
More about Wagners Holding Co. Ltd.
Wagners Holding Company Limited is a diversified Australian construction materials and services provider, established in 1989 in Toowoomba, Queensland. The company is an innovative producer of New Generation Building Materials, operating both domestically and internationally. Wagners produces cement, concrete, aggregates, and composite products, and is a leader in developing technology to reduce the environmental impact of heavy construction materials. Additionally, they provide transport services, precast concrete, and reinforcing steel.
YTD Price Performance: 94.16%
Average Trading Volume: 250,567
Technical Sentiment Signal: Buy
Current Market Cap: A$500.6M
See more insights into WGN stock on TipRanks’ Stock Analysis page.