NZ's Fletcher Building slips to 1-mth low on regulator suing unit

Fletcher Building

31/10/2024 21:49

** Shares of Fletcher Building  FBU.NZ  fall as much as 2.3%
to NZ$2.930, hitting their lowest level since Oct. 2
    ** The construction materials supplier said Commerce
Commission is suing its unit Winstone Wallboards over historical
product discounts
    ** Commerce Commission had in a report identified that
retroactive rebates were harming competition in the market
    ** Co indicated Winstone intends to defend the proceedings
    ** Stock down 36.8% YTD, including current session moves

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))