2 Jul 2010 18:30

AvtoVaz president becomes shareholder in plant with 13.4 mln ruble packet

MOSCOW. July 2 (Interfax) - OJSC AvtoVaz's president Igor Komarov has acquired 0.0735% of the common shares in the Volga-based automotive plant.

Komarov earlier did not own shares in the company. His current stake in AvtoVaz's charter capital will come to 0.0551%.

The company learned about the change in ownership on June 30.

AvtoVaz's charter capital consists of 1,388,289,072 common shares and 461,764,300 preferred shares. Factoring the plant's average common share value on the MICEX Stock Exchange of 13.1 rubles per share, Komarov's packet is estimated at 13.367 million rubles.

It was earlier reported said that the company plans to produce 571,000 cars in 2010 and sell 583,000 cars.

The enterprise reduced car sales in 2009 by 44% to 349,500. The company plans to boost total sales to 1.2 million units by 2010, of which 70% will be Lada cars.

Russian Technologies, Troika Dialog and Renault currently own 25% plus one share each in AvtoVaz.