April 19, 2018 / 10:09 PM / a month ago

Shares in NZ's Fletcher building rise 1.65 pct as trading halt lifted

WELLINGTON, April 20 (Reuters) - Shares in New Zealand’s Fletcher Building rose 1.65 percent on Friday after a three-day trading halt to allow the company to carry out a capital raise.

Fletcher Building announced the NZ$750 million ($545.10 million)capital raise on Tuesday as well as plans to create a banking facility of NZ$500 million as it seeks to address huge cost overruns in its commercial building unit.

Shares jumped to NZ$6.100 when the New Zealand stock market opened on Friday morning. ($1 = 1.3759 New Zealand dollars) (Reporting by Charlotte Greenfield, editing by G Crosse)

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