Fletcher Building Limited (FRCEF) has released an update.
Fletcher Building Limited has launched a significant equity raising initiative to secure NZ$700 million, aimed at fortifying the company’s financial foundation amid tough market conditions. The move, which includes a NZ$282 million institutional placement and a NZ$418 million entitlement offer, is designed to enhance operational focus and maintain investment grade credit rating. Additionally, Fletcher Building is targeting NZ$180 million in overhead cost savings by FY25 to bolster profitability.
For further insights into FRCEF stock, check out TipRanks’ Stock Analysis page.
