Brief: Fletcher Building Announced NZ$700 Million Equity Raising

Fletcher Building

22/09/2024 22:31

Sept 23 (Reuters) - Fletcher Building Ltd  FBU.NZ :
    * ANNOUNCED TODAY A NZ$700 MILLION EQUITY RAISING
    * HAVE TARGETED APPROXIMATELY NZ$180 MILLION OF GROSS
OVERHEAD
COST SAVINGS TO BE DELIVERED IN FY25
    * COMPRISING A FULLY UNDERWRITTEN CIRCA NZ$282 MILLION
INSTITUTIONAL PLACEMENT AND NZ$418 MILLION ENTITLEMENT OFFER
    * EQUITY RAISING WILL BE AT A FIXED PRICE OF NZ$2.40 PER NEW
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Further company coverage:  FBU.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))