Fletcher completes institutional share offer
Institutional shareholders take-up 91% of rights issue and placement swallows the rest, raising gross proceeds of $593m.
Fletcher Building announced a $700m capital raise on Monday.
Fletcher Building has completed the institutional component of its $700 million capital raise at $2.40 a share, with a 9% rights issue shortfall taken up by other investors.
The stock rose 10.3c to $2.86 by lunchtime after a trading halt was lifted shortly before noon.
In a statement to the NZX,
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