Orco Germany graduates to regulated market in Frankfurt

Orco Property Group announced on Tuesday that shares in its German subsidiary have been admitted to the regulated market of the Frankfurt Stock Exchange. Orco Germany's entire share capital, or about 49 million shares, has been listed on the exchange's open market since 2006. The new listing gives the company a market capitalisation of EUR 563 mln. Orco Germany's total portfolio has been valued by DTZ at EUR 833 mln.

Admission criteria for the regulated market, a segment regulated by the EU, are stricter than for the open market, which is regulated by the Frankfurt stock exchange itself. Disclosure and transparency requirements are also tighter on the regulated than on the open market. By graduating to the regulated market, Orco Germany will automatically fall under the prime standard, or highest transparency level of the exchange.

'With this listing on the regulated market we hope to increase the liquidity of the stock and to create better conditions for sustained share price increase. Orco Germany has already demonstrated its capabilities to raise funds on the financial markets, through the EUR 100 million bond with warrants issue completed in May 2007. We are confident that in the future our German subsidiary will be able to successfully use this listing on the regulated market for additional financing,' said Arnaud Bricout, vice president of Corporate Finance of Orco Property Group.