Fletcher Building Ltd will open its onmarket buyback for up to 70 million shares on Monday.
The company said its purchase limit was $300 million.
The buyback programme can run for up to 12 months from the date of Fletcher’s disclosure document, 21 August.
The company’s share price has fallen 26% over the last year, closing at $4.62 today.
It bottomed at $4.32 last Thursday-Friday, down from $6.58 on 2 October last year. 2 years ago the price was $7.88.
Attribution: Company release.