RPT-Czech developer Orco sees bigger capital hike

19.04.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

(Repeats story published late on Wednesday)...

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BUDAPEST, April 18 (Reuters) - Czech real estate developer Orco Property Group's planned new share offering may double to 200 million euros, the company said on Wednesday.

Orco , traded on the Euronext and in Prague, had earlier said it planned listings in Warsaw and Budapest through a roughly 100 million euro share offering.

"The current state of things is that each of the capital increases could be 100 million euro, that is the Warsaw and Budapest issuance would represent equal capital hikes," Web site www.portfolio.hu quoted Erzsebet Galambos, managing director of Orco's Hungarian subsidiary, as saying.

An Orco spokeswoman later confirmed that the plan saw 100 million euro issuance in each of the two new markets. The offering is expected later in the second quarter.

Galambos said Orco's Hungarian operations had expanded robustly in the past two years and the unit more than tripled the size of its real estate portfolio. (Additional reporting by Jan Lopatka in Prague)

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