Bad headlines on Fletcher Building hide business with 'healthy prospects', says new shareholder Kingfish

Mon, 14 May 2018

By Jonathan Underhill May 15 (BusinessDesk) - Bad headlines about Fletcher Building from some segments of the media have overshadowed a business with "healthy prospects" and a new management team that is "a catalyst for change", says listed investment fund Kingfish. The fund overseen by Fisher Funds Management added Fletcher to its portfolio in April, when the shares slumped to their lowest levels in almost six years. Last month Auckland-based Fletcher unveiled a $1.25 billion refinancing plan including a deeply discounted offer to shareh...

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