NZ's Fletcher gains on selling construction unit to French builder
20/01/2026 02:53
** Fletcher Building FBU.NZ rises as much as 4.47% to NZ$3.970, highest since April 8, 2024 ** Stock posts biggest intraday pct gain since September 15, 2025 ** Construction material maker says it will sell its construction division to French infra co VINCI SA's SGEF.PA unit for NZ$315.6 mln ($183.2 mln) ** Construction arm provides building, maintenance services for infra projects across New Zealand and South Pacific ** Sale after weaker demand in firm's materials and distribution division weighed on 2025 earnings ** FBU gained 29.1% in 2025 ($1 = NZ$1.7229) (Reporting by Kumar Tanishk in Bengaluru) ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))
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