Fletcher Building Ltd announced today it will undertake a capital return to shareholders of up to $300 million through an onmarket share buyback.
The Overseas Investment Office has approved the second standing consent arrangement, in each case for NZX-listed companies deemed to be overseas owned.
Fletcher Building Ltd said today it had completed its sale of the Formica Group to Broadview Holding BV, and also confirmed its earnings guidance for the balance of the company for the financial year ending this month.
Precinct Properties NZ Ltd has pushed back the opening dates for its Commercial Bay property in downtown Auckland to March 2020 for the retail centre and April 2020 for the new PwC Tower.
Fletcher Building Ltd said yesterday it had entered into an agreement to sell the Formica Group to Broadview Holding BV for $US840 million ($NZ1.226 billion).
Fletcher Building Ltd’s positive annual meeting presentation yesterday was overshadowed by a cut in profit guidance.