Shares in the development company Orco Property Group will be taken off the Prague Stock Exchange on Sept. 22. This long-expected step is the outcome of the company’s descent into debt that began towards the end of the real estate boom in 2007. Its exposure was revealed by the financial crisis, when banks were forced to change their lending policies drastically, and Orco’s situation quickly became untenable. The Czech property giant CPI gradually took a controlling share in the company and is now bringing it fully under its control. The last day of trading for those with shares on the Prague Stock Exchange will be Sept. 19. The reason given by the company for the move is insufficient liquidity of its shares. Over the last year, shares in Orco have fallen by more than 80 percent and now sell for less than CZK 12. In 2007, they peaked at CZK 3,802 per share. Orco shares will remain listed and traded on the regulated markets of NYSE Euronext in Paris and Warsaw
Stock Exchange.
