Orco Property Group : Orco Property Group (Orco) announces the signing of a new step-up equity subscription program (PACEO) with Société Générale
Orco Property Group (Orco) announces the signing of a new step-up equity subscription program (PACEO) with Socit Gnrale
- A total envelope of 2 million shares over 2 years, representing EUR 50 million about, based on current market price;
- Implementation by instalments according to the needs of Orco and with the permanent guarantee of Socit Gnrale;
- A new line of equity, alongside new bank financing in order to consolidate the financial position of Orco.
HD Voice
Orco generates revenue of €113 mln in H1
Orco Property Group, one of the biggest property developers in the Central and Eastern Europe, posted unaudited revenues of €113 million during H1 of 2008, down from €125 million during the first half of 2007, the company reported.
Orco announced that during the first half of 2008, the company had posted turnover of €43 million in the Czech Republic, €40 million in Germany, €13 million in Russia, €21 million and in other European countries, while the company sustained inter-segment-elimination losses of €4 million in these countries during the period.
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