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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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
