Pipe uncertainty to weigh on Fletcher when trading resumes

The stock was trading at $4.90 before it went into a halt on Wednesday. (Image: BGC)

Fri, 13 Oct 2023

Analysts expect uncertainty to weigh on Fletcher Building when it resumes trading with litigation expected over its Iplex pipe division. The stock was trading at $4.90 before it went into a halt on Wednesday for 48 hours. Its order book at 6pm Thursday showed offers to sell at as low as $4.30.Fletcher went into a halt after BusinessDesk asked questions relating to Perth builder BGC’s independent expert findings on the issue. BGC claims it will cost Fletcher A$1.8 billion (NZ$ 1.9b), but the provision is just A$15m. “T...

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