Orco has announced that it has raised EUR 7,999,934 through the issue of 167,960 new shares on the back of the earlier announced PACEO program. The program gives Orco the right to issue up to 1m new shares. So far 387,960 new shares has been issued. The new shares were subscribed at EUR 47.63/share and Orco’s share capital is now represented by 6,322,145 shares. We are currently reviewing our valuation for Orco with a potential upgrade. The current fair price stands at EUR 50/share.