Fletcher sets out to raise $700m
Cash will pay down debt and reduce pressure to sell assets, company said.
Incoming Fletcher Building managing director Andrew Reding.
Fletcher Building will do a $700 million equity raise to strengthen its balance sheet.
In a statement issued to the NZX this morning, Fletcher said $678m of the proceeds would be used to repay debt, with $22m going on the costs of the offer.
New managing director Andrew Reding, who formally starts
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