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

Wed, 11 Sep 2024

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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