Fletcher Building Limited (FRCEF) has released an update.
Fletcher Building Limited has requested a trading halt in anticipation of a significant capital raise, aiming to secure approximately NZ$700 million through a placement and an accelerated non-renounceable entitlement offer, fully underwritten by Jarden. This halt is to ensure a fair and orderly market until the completion of the capital allocation, which is expected to be completed by Wednesday, 25 September 2024. The move is designed to prevent any unfair market advantage and maintain transparency during the fundraising process.
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