Fletcher Building has gone into a trading halt, announcing it wants to raise 700 million dollars
Fletcher Building has gone into a trading halt, announcing it wants to raise 700 million dollars
23 September 2024
The construction giant plans to issue 292 million new shares.
The company says it wants to improve its balance sheet and its financial stability and resilience, in what it says is a "challenging environment".
It expects market conditions to eventually recover.
However, by improving its financial position now, it can focus on operations, reduce pressure to sell assets, and maintain its investment credit rating.
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