By Susanna Moon
Chicago, June - Orco Property Group said it would raise €172.5 million in a private placement of stock to institutional investors, up from the €150 million announced earlier Thursday thanks to exercise of the greenshoe.
Orco will issue a total of 1.5 million shares, consisting of 1,304,348 shares at €115 each and an exercised greenshoe for 195,652 shares.
The deal is expected to settle on June 21.
Citigroup Global Markets Ltd. is the bookrunner for the offering, Wood & Co. is the co-lead manager and Dom Maklerski Banku Handlowego, a member of Citigroup, is the selling agent in Poland.
The company applied for trading on Eurolist by Euronext Paris and on the Prague Stock Exchange for admission on June 21 June.
"The success of the capital increase will allow us to expand our portfolio further in the fast growing real estate market of Central Europe," Jean-François Ott, Orco's chief executive officer, said in a press release.
Orco Property Group is a Central European developer and asset management company based in Luxembourg.
Issuer Orco Property Group
| Issue: | Stock
|
| Amount: | €172.5 million
|
| Shares: | 1,304,348 plus greenshoe of 195,652 shares
|
| Price: | €115
|
| Greenshoe: | For 195,652 shares (exercised)
|
| Warrants: | No
|
| Bookrunner: | Citigroup Global Markets Ltd.
|
| Co-lead manager: | Wood & Co.
|
| Selling agent: | Dom Maklerski Banku Handlowego, a member of Citigroup
|
| Pricing date: | June 14
|
| Settlement date: | June 21
|
| Stock symbol: | Eurolist: ORC
|
| Stock price: | €120.76 at close June 13
|
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