UPDATE: Fletcher shares gain on $300 mln buyback

Wed, 26 Jun 2019

(Updates and recasts with share price, CEO briefing, broker comment) By Paul McBeth June 26 (BusinessDesk) - Fletcher Building shares recovered some of yesterday's decline as the country's biggest listed construction company announced plans to buy back as much as $300 million of stock, with the bulk of the billion-dollar Formica sale proceeds being used to cut debt. The shares increased 0.4 percent to $5.35, and are up from as low as $4.57 in mid-March when investors were wary that Fletcher might re-enter the vertical construction seg...

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