Fletcher completes $750M equity raising with sale of shares under retail shortfall bookbuild

Tue, 15 May 2018

By Tina Morrison May 16 (BusinessDesk) - Fletcher Building has reached its $750 million equity raising target after selling 20.2 million shares under its retail shortfall bookbuild, at a premium price to the entitlement offer but a discount to the trading price of the shares. The building company said it sold the shares under the retail shortfall bookbuild for $6.45 apiece, a premium of $1.65 per share over the entitlement offer price of $4.80. The shares closed yesterday at $6.56 and have dropped 9.8 percent this year. Auckland-based Fl...

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