Lendlease announced on November 9, 2018 that it required a previously unannounced provision of AU$350M due to significant underperformance in its engineering division relating to a number of projects. Over the next full trading day, Lendlease’s American depositary receipt (“ADR”) price fell $3.12 per ADR, or 24%, on this news, to close at $9.48 per ADR on November 12, 2018.
Lendlease Corporation Limited
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