AvtoVAZ to increase its stock price

The AvtoVAZ car producer is going to make steps in order to increase its stock price up to $45-50, chairman of the company's board of directors Vladimir Kadannikov said at a press conference in Tolyatti.

According to him, in 2001 the price of an AvtoVAZ common stock grew by about 12.1 times and is now fluctuating within $35-39 per share. However, AvtoVAZ is still an underestimated company.

Kadannikov also reported that AvtoVAZ was planning to increase the capitalization of the company up to $1.5bn by the end of 2002. A week ago it reached the level of about $1bn.

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