According to a press release issued by Orco Property Group, 18.3m shares issued on May 12 will be admitted to trading in Paris today. The procedure for trading in Prague and Warsaw is still pending.
The shares were issued as a first payment in the exchange of bonds issued by Orco Germany to equity. Lately, worries of a dilutive effect and of a potential selling pressure from the new shares issued as well as the still difficult situation regarding the renegotiation of the company’s loans have sent the price downward (-24.6% over the last month). Some more selling pressure could be possible.