Orco Property Group has applied to delist from the Budapest stock exchange, although it will remain listed in Paris, Prague and Warsaw.
The company expects the delisting to take place on 1 December. Its shares have been listed in Hungary since 2007 and the group says the move is the result of low trading volumes and will reduce the costs of listing and reporting.
In September, Morgan Stanley Real Estate Investing became Orco’s biggest shareholder after acquiring 3m new shares in the company. Orco’s share capital was increased to €69.9m and MSREI became a 19.2% stakeholder.
