FBU - Fletcher Building Ltd

[utopian201]

I took up the offer (not to the maximum) too.

I just checked, the plan has been oversubscribed and applications will be scaled back. Today's high was $7.30, almost a $2.00 premium to the SPP. I'm not sure if the recent index rally is a sustained one...will wait and see

[Bongo666]

I guess the oversub shows the long-term sustainability of the company. Remember, they made it through the big daddy of recessions, the great one in the 1930s.

So many bargains out there, so little money.

I am after some more AIA shares...

[Bongo666]

I see that shareholders that participated in the share offer for extra Fletcher Building shares will get just over half of what they applied for (see attachment below). I personally didn't apply for enough cause I had no idea of what the demand would be. It will teach me to get more in the 3 other capital raisings that I am going to participate in.

Your feelings Utopian?

[utopian201]

The directors bought over 1.5m worth of shares all at $5.35. I don't think they will get their applications scaled back like everyone else though since they would have been trated as the special group mentioned in the application.

Because the applications got scaled back, it just means theres more for other capital raisings

[Bongo666]

The directors bought over 1.5m worth of shares all at $5.35. I don't think they will get their applications scaled back like everyone else though since they would have been trated as the special group mentioned in the application.

Because the applications got scaled back, it just means theres more for other capital raisings

True enough, I got 114 shares allocated

[Bongo666]

While I loath with a passion the socialist insulation handouts to uncle Tom Cobly and all, there is a bright spot for Fletcher Building out of all of this. Fletcher's owns Pink Batts!!

These things always create anomalies

[Bongo666]

The appointment of Ralph Waters, former CEO of FBU, to Chairman is certainly a good move in my opinion. His influence on the board could move FBU where it needs to go.

See attachment for more.

[Bongo666]

If you are a FBU investor relations person reading this you still haven't cashed my SPP cheque and you have refunded the balance not used to purchase my shares.

[Bongo666]

From news reports over the last few days (see attachment below) it looks like there is alot of commercial building going on in NZ. This was telegraphed by FBU last year and they have a large share of this commercial sector. Yesterday's building consent figs for June were second highest on record.

The Dunedin contract for their new stadium doesn't look to have a contractor yet but Fletcher will have an input somewhere, whether its building it or supplying the raw materials or both.

[Fatboy]

It looks like the share price is going to stabalize between 6-7 dollars until we see the private housing starts taking off again. Commercial looks excellent as some other posters have said and this hould be a strong point going forward. Placemakers is looking like a desert these days.

[Bongo666]

It looks like the share price is going to stabalize between 6-7 dollars until we see the private housing starts taking off again. Commercial looks excellent as some other posters have said and this hould be a strong point going forward. Placemakers is looking like a desert these days.

I agree and the Victoria Road tunnel contract awarded yesterday is clear evidence of that...

[Bongo666]

Seems like there is plenty of hope built into the spectacular rise in this stock price?

[Bongo666]

An interesting take on Hugh Fletcher's time as CEO and his failure as a leader that nearly ended the company.

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FBU - Death of an empire.docx