Allan Gray questions Fletcher Building's residential sale plans

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
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...

More Markets

NZ sharemarket ends week up nearly 1.2%
Markets Market close

NZ sharemarket ends week up nearly 1.2%

The S&P/NZX 50 Index closed at 12,904.11, up 149.96 points or 1.18%.

Graham Skellern 20 Dec 2024
Marlborough Wine Estates' NZX delisting gets green light
Markets

Marlborough Wine Estates' NZX delisting gets green light

Cost savings were behind the decision to delist, the company says.

John Anthony 20 Dec 2024
Global private equity firm snaps up 50% of Craigs
Markets

Global private equity firm snaps up 50% of Craigs

Partnership with TA Associates tipped to accelerate Craigs' growth.

John Anthony 20 Dec 2024
ComCom delays Manawa takeover deal decision
Markets

ComCom delays Manawa takeover deal decision

Due on Dec 24, the decision will now be in March.

Ian Llewellyn 20 Dec 2024