Prices paid for shares in Fletcher Building have risen 1% after the successful completion of contract talks to build a new $300 million prison at Wiri, South Auckland.
One of its units, Fletcher Construction, will design and build the prison, which should be completed by 2015, under a public-private partnership contract.
Fletcher is part of the SecureFuture consortium, which has agreed a contract with the Department of Corrections to design, build, own, maintain and operate the facility for 25 years.
Fletcher's stock rose 7 cents to $6.62 per share on Tuesday.
Serco will operate the prison and Spotless Facility Services will be responsible for maintenance.
The Accident Compensation Corporation is one of the funders.
