Fletcher Building Completes Major Equity Raise

Fletcher Building Limited (FRCEF) has released an update.

Fletcher Building Limited, a New Zealand-based company, has announced the successful completion of its NZ$700 million equity raise, which includes both a placement and a Retail Entitlement Offer. The Retail Entitlement Offer alone resulted in approximately NZ$113 million in gross proceeds, with an effective take-up rate by Eligible Retail Shareholders of about 73%. The new shares issued will start trading on the NZX Main Board and ASX from 15 October 2024, ranking equally with existing shares.

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