McCullough Robertson has topped of last year with the third-largest ASX debut of 2017.
The firm acted for Toowoomba-based construction group Wagners in its $197m IPO. On its debut, the stock soared 23%.
Partner Reece Walker, who led the firm’s team, drew a parallel between the firm’s growth and that of its client. The firm grew from regional Queensland to becoming the state’s largest law firm before expanding nationally, he said, much like Wagners, which grew from its Toowoomba roots to now being an exporter of products to a variety of jurisdictions, including New Zealand, the larger Asia region, and the US.
Walker was aided by partner Jim Peterson, lead senior associate Ben Wood, and lawyer Naomi Benton. The firm acted on the IPO, as well as the demerger of the Wagner family shareholding and the restructuring of the group prior to the IPO.
Wagners was established in 1989 by Henry, John, Denis, Neill, and Joe Wagner. The Wagner family sold 45% of the company and retains the controlling stake.
Morgans and Credit Suisse were the joint lead managers. PwC also advised on the IPO.
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