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In a brief declaration to the share market, the nation’s biggest constructing business rejected the report. (file image)
Picture: RNZ/ Cole Eastham-Farrelly
Fletcher Building is rejecting a media report recommending it is weighing up a capital raise.
The Australian paper reported that market speculation recommended the business might be making a relocation to raise cash as early as next week.
In a brief declaration to the share market on Wednesday early morning, the nation’s biggest developing business rejected the report.
“Fletcher Building Limited knows a news media report specifying that it is weighing up an equity raise. This is incorrect and Fletcher Building is looking for to have the story eliminated,” it stated.
The business was because of launch its half-year result next week.
Previously today, Fletcher Building exposed it was reserving $180 million for most likely losses on 2 huge jobs.
It put aside $165m for more expenses in the restore of the International Convention Centre in Auckland, and $15m for a parking area structure at Wellington Airport.