The OPG president, Jean-Francois Ott,, said that there should be a new round of real estate portfolio transactions from public companies disposing of buildings to free up capital for core-business investments (e.g. Cesky Telecom) and also from banks following write-offs of bad loans secured by real estate. Ott said that the company plans to spend EUR 67m in the CEE region in the next 2-3 years while as much as EUR 40m would be financed by equity. In addition, OPG expects the Czech Republic to account for 55% of total revenues by 2008 compared with the current 80%. Source: WSJE, Dow Jones
Separately, OPG said in a press release that 1,238,925 warrants and 39,595 convertible bonds (5.5% - 2011) were exercised, hence the company’s share capital now stands at EUR21.2m and is represented by 5,2m shares. The number of new shares stands at 453 ths. or 9% of the new total number of shares outstanding. Note that the total number of share may reach 6.6m subject to exercise of all warrant and convertible bonds.