Orco Property plans private placement of shares

By Laura Lutz

Des Moines, June 4 - Orco Property Group arranged a private placement of shares.

The company plans to sell 1,304,348 ordinary shares. The pricing will be set through a bookbuild process by bookrunner Citigroup Global Markets Ltd.

Pricing is expected on June 14.

The maximum price per share will be the highest euro or euro-equivalent final stock price of the company's shares on Euronext Paris or the Prague Stock Exchange on that date.

Citigroup has a greenshoe for up to 15% of the number of shares, exercisable for 30 days following pricing.

Orco is a real estate and hospitality company based in Luxembourg. Its stock closed down 79 cents, or 0.6%, at €123.02 on Monday (Euronext: ORC).

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