Wagners IPO Set In Concrete?

I read in the Australian Financial Review earlier in the week that Wagners Group is looking to list on the Australian Stock Exchange. While there is not much information available yet, the rumor is the deal is worth around $500 million.

About the business:

From the website...

"Wagners is one of Queensland's largest privately-owned construction materials and mining services companies"

What captured my attention about this float is that it is a long established business which has been in operation for 28 years. Also, the family who founded the business is planning on maintaining a significant stake in the company. In my experience, this is normally good news for an IPO. However, as always, the devil will be in the detail. The asking price will be a big determinant as to whether an investment will be warranted.

There is no time frame for the Wagners float yet.