AvtoVAZ could list its GDRs on Frankfurt and London stock exchanges

26.02.2003 05:32

The AvtoVAZ carmaker discusses listing of its Global Depositary Receipts (GDR) on the Frankfurt and London stock exchanges, member of the AvtoVAZ Board of Directors Albert Gavrikov reported at a press conference today. Currently, AvtoVAZ's GDRs are traded on the Berlin Stock Exchange. The share of GDRs in the share capital of AvtoVAZ is less than 1 percent, or over RUR16bn (about $506.53m). According to Gavrikov, the top management of the car producer considers different variants regarding what stake in the company to convert into GDRs.

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