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An update from Fletcher Building Limited ( (NZ:FBU) ) is now available.
Fletcher Building has divested its remaining 50% stake in its Fiji-based construction business, held through subsidiary Higgins, selling it to joint venture partners Fijian Holdings Limited and the Fiji National Provident Fund for non-material consideration. FNPF and FHL, which acquired the first 50% in 2024, now own the operation outright, creating a fully Fijian-owned construction entity.
The Fiji business was carved out of Fletcher’s earlier sale of its broader Construction Division to VINCI Construction, alongside other South Pacific operations that are still under strategic review. Management framed the deal as part of an ongoing effort to simplify Fletcher Building’s structure and align the portfolio with its longer-term strategic direction, while providing greater certainty, stability and local leadership for the Fiji business.
The most recent analyst rating on (NZ:FBU) stock is a Sell with a N$2.80 price target. To see the full list of analyst forecasts on Fletcher Building Limited stock, see the NZ:FBU Stock Forecast page.
More about Fletcher Building Limited
Fletcher Building Limited is a New Zealand-based building and construction group with operations across the South Pacific, including construction services delivered through subsidiaries such as Higgins and Fletcher Construction. The company focuses on infrastructure and building projects and has been reshaping its portfolio through targeted divestments and strategic reviews.
Average Trading Volume: 1,199,374
Technical Sentiment Signal: Strong Sell
Current Market Cap: N$3.11B
See more insights into FBU stock on TipRanks’ Stock Analysis page.