Market regulator to review Fletcher disclosure on pipe failures
Fletcher has placed its shares in trading halt as it prepares a response to an expert report on leaky pipes in Australia – information it appears to have had since June.
Fletcher Buildings Australian subsidiary Iplex withdrew its pro-fit pipe product from sale last year after a spate of leaks.
Sharemarket regulator NZRegco says it will review Fletcher Building’s compliance with continuous disclosure rules after the company releases a response to a customer’s presentation on bursting pipes in Australia.
Fletcher this morning sought an extension to a trading halt on its shares in place
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