Fletcher Building Limited: Successful Completion of Institutional Component of Equity Raising

Fletcher Building Limited (ASX: FBU) announced that it has successfully completed the institutional entitlement offer component of its NZ$418 million underwritten 1 for 4.49 pro-rata accelerated non-renounceable entitlement offer and its NZ$282 million underwritten placement announced on 23 September 2024.

The Placement and Institutional Entitlement Offer closed on Tuesday, 24 September 2024 and raised gross proceeds of approximately NZ$593 million. with strong support from investors. Eligible institutional shareholders elected to take up 91% of the Institutional Entitlement Offer. All existing eligible institutional shareholders who bid for their pro-rata allocation of the Placement were allocated that number of new shares.

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