Recasts paragraph 1, adds shares in paragraph 2 and further details in paragraphs 6-8
June 11 (Reuters) - Shares in New Zealand's Fletcher Building FBU.NZ surged 5% at open on Wednesday, after the building materials group flagged "ongoing inbound inquiries" from parties who were interested in its businesses, including the construction division.
Fletcher's stock soared to NZ$3.16, on track for its biggest single-day gain since April 10.
The construction materials maker also advised that no decisions have been made to sell any of its businesses.
In August last year, the company sold its Australian plumbing supplies and distribution segment, Tradelink, for NZ$170 million ($102.83 million).
In its fiscal 2024 annual report, Fletcher cautioned that volumes in its construction materials and distribution businesses could fall as much as 15% in fiscal 2025, citing macroeconomic pressures in Australia and New Zealand.
It said it would give more details at its investor day later in the month.
Fletcher's construction arm has created some major issues for the broader group, and is at the centre of a lawsuit by casino company SkyCity Entertainment SKC.NZ over delays in completing the construction of the International Convention Centre in Auckland.
Last month, Fletcher unveiled a business restructure following a strategic review, which included the departure of its Australian division chief executive, Gareth O'Reilly.
($1 = 1.6532 New Zealand dollars)
(Reporting by Nikita Maria Jino in Bengaluru; Editing by Alan Barona)
((Nikita.Jino@thomsonreuters.com))
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