Orco Property Group is planning to place up to 1.3 million new shares with institutional investors to finance expansion in Central and Eastern Europe. The price of the share issue will be announced on 14 June 2007. Citigroup Global Markets is acting as sole global co-ordinator, sole bookrunner and stabilising manager ifor the capital Increase. Wood & Co. has been appointed as co-lead manager of the offering. Dom Maklerski Banku Handlowego, a member of Citigroup, will act as a agent in Poland.
Orco Property Group is planning to place up to 1.3 million new shares with institutional investors to finance expansion in Central and Eastern Europe. The price of the share issue will be announced on 14 June 2007. Citigroup Global Markets is acting as sole global co-ordinator, sole bookrunner and stabilising manager ifor the capital Increase. Wood & Co. has been appointed as co-lead manager of the offering. Dom Maklerski Banku Handlowego, a member of Citigroup, will act as a agent in Poland.
The company said it is to seek a listing on Warsaw's and Budapest's stock exchanges. 'The capital increase will allow us to expand our portfolio further in the fast growing real estate market of Central Europe, and we hope that it will allow investors from that region to participate in the future of Orco', said ceo Jean-François Ott.
Orco Property Group is an investor, developer and asset manager in the Central European real estate and hospitality market, currently managing assets of about EUR 1.3 bn.
