NZ's Fletcher Buildings near 2-month low after unit gets legal notice

Fletcher Building

28/08/2024 04:01

** Shares of Fletcher Building  FBU.NZ  slip as much as 2.7%
to NZ$2.860, their lowest levels since July 9
    ** NZ-based builder on Tuesday said it received legal notice
from Australian homebuilder Buckeridge Group of Companies
against its unit, Iplex Pipelines Australia
    ** Said legal action related to a dispute over plumbing
failures at 1,500 homes in Perth
    ** Stock on track for seventh consecutive session of losses
    ** FBU down 38.5% YTD, as of last close

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))