Shane Solly: Harbour Asset Management spokesperson on Fletcher Building's bid to raise $700 million - Heather du Plessis-Allan Drive

Fletcher Building is looking to put its problems in the past, as it aims to raise an extra $700 million.

The construction giant plans to issue $292 million in new shares for investors, to cut into its $1.8 billion debt.

Fletcher Building has announced a group net loss of $227 million last month.

Harbour Asset Management's Shane Solly says this is part of the company's bid to reduce additional losses. 

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