UPDATE: Fletcher shares gain after shortfall bookbuild cleared at premium to offer price

Thu, 19 Apr 2018

(Recasts lede on shares, adds broker comment) By Paul McBeth April 20 (BusinessDesk) - Fletcher Building shares rose 3.3 percent when they resumed trading as investors were buoyed by the premium paid in the bookbuild to clear leftover entitlements in the institutional component of a $750 million capital raise. The shares gained to $6.20 from a theoretical ex-rights price of $6 having been halted for three days during the Auckland-based company's capital raise. Investors took up the remaining 2.2 million entitlements in the bookbuild a...

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