Fletcher Building Limited (FRCEF) has released an update.
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Fletcher Building Limited has issued new shares to raise approximately NZ$587 million through a combined placement and institutional entitlement offer, with an additional NZ$113 million expected from the retail component. Existing eligible institutional shareholders were given priority in the allocation of new shares, with the aim of fair treatment and minimization of dilution. Retail shareholders are reminded of the closing date for the retail entitlement offer, which allows them the option to purchase additional shares to mitigate dilution effects.
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