Fletcher Building says retail investors will pay $5.35 per share under a $100 million share purchase plan - the same price as institutional investors.
The company says investor interest in buying the extra shares means it will have to scale back the amount each shareholder receives.
The extra cash means Fletcher Building has accumulated over $500 million to bolster its financial position.
Fletcher Building has said the money will buy it time if an economic recovery comes later than expected. It will go towards reducing debt as the company reduces its dividend and looks to restructure its business to meet lower demand.
Fletcher Building raised $131 million in capital notes debt earlier this year.
