Fletcher Building's trading halt request details

Fletcher Building Limited (ASX:FBU) has requested a trading halt for its ordinary shares to facilitate a capital raising initiative. The company aims to raise approximately NZ$700 million through a NZ$282 million placement and an accelerated non-renounceable entitlement offer (ANREO) of approximately NZ$418 million. The trading halt is expected to last up to two trading days, commencing from September 23, 2024, and being lifted at the earlier of the announcement of the outcome of the capital raising or the opening of trading on September 25, 2024.

Executive Commentary on Trading Halt Request

Fletcher Building has requested a trading halt to facilitate a capital raising initiative, which includes a placement and an accelerated non-renounceable entitlement offer. The company believes that the trading halt is necessary to ensure a fair, orderly, and transparent market during the process. Once the capital raising is completed, the company intends to release the details to the market, considering the information to be price sensitive. The trading halt is expected to end upon the announcement of the outcome of the capital raising, anticipated to occur on September 24, 2024, or before the market opens on September 25, 2024.

Summary of Fletcher Building's Trading Halt Request

Fletcher Building Limited (ASX:FBU) has requested a trading halt to facilitate a capital raising initiative, aiming to raise approximately NZ$700 million. The capital raising includes a NZ$282 million placement and an accelerated non-renounceable entitlement offer of approximately NZ$418 million. The company believes that the trading halt is essential to ensure a fair, orderly, and transparent market during the process. Once the capital raising is completed, the company intends to release the details to the market, considering the information to be price sensitive. The trading halt is expected to end upon the announcement of the outcome of the capital raising, anticipated to occur on September 24, 2024, or before the market opens on September 25, 2024.