Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Arco Falls to Lowest Level in Two Years After Report on Capital

Don't Miss Out —
Follow us on:

Nov. 18 (Bloomberg) -- Arco Vara AS, an Estonian property developer, fell to the lowest level in almost two years after a newspaper report that its main owners have discussed a capital increase.

The stock fell as much as 7.8 percent in trading in the capital Tallinn to the lowest level since December 2009. It traded 7.6 percent lower at 2.61 euros at 11:55 a.m. Arco has shed 53 percent this year, compared with a 12 percent decline for its eastern European real estate peers, according to Bloomberg data.

Arco’s main owners have “recently” discussed a capital increase, Aeripaeev reported today, citing an interview with Richard Tomingas, the company’s chairman. There is a “constant concern” about cash, Tomingas was cited in the newspaper as saying.

To contact the reporter on this story: Ott Ummelas in Tallinn at oummelas@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.