Allan Gray questions Fletcher Building's residential sale plans

Allan Gray questions Fletcher Building's residential sale plans
An analyst says Fletcher residential business fits with the global property investment theme of “beds, sheds and meds”. (Image: Fletcher Building)
Rebecca Stevenson
Fletcher Building’s largest shareholder, Allan Gray, is concerned that the building giant may not be able to get a reasonable price for its residential arm. The dual-listed building conglomerate announced in August that it would seek external investment in its residential and development business and said it intended to retain a material stake. Allan Gray analyst Sudhir Kissun said there was strategic value in Fletcher Building bringing in a partner that specialised in property development, which could potentially generate more...

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