Fletcher raises $132M in retail entitlement offer, concludes USPP noteholder negotiations

Tue, 15 May 2018

By Jonathan Underhill May 15 (BusinessDesk) - Fletcher Building said it completed the retail component of its one-for-4.46 pro-rata entitlement offer, raising about $132 million and leaving a shortfall of about $97 million to be made up from the retail shortfall bookbuild. The bookbuild will ensure Fletcher gets to its $750 million equity raising target, having already completed the institutional leg of the offer last month. Eligible retail shareholders took up about 58 percent of their entitlements. The capital raising was at $4.80, a de...

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