Fletcher Building gets its quick cash, but problems don’t disappear

Building materials group Fletcher Building is displaying the best and worst of listed equity markets.

The sole large-cap survivor in a sector raided in the past 12 months (CSR, Boral, AdBri all gone) and carrying too much debt in a housing construction downturn, Fletcher Building can send its bankers to market and over one weekend arrange a chunky equity bailout.

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