UkrAvto Assets Increase 2.3-Times In 2006
12 March 2008
Ukraine’s largest automotive holding, Ukravto (AVTO) saw its assets increase by 2.3-times in 2006 to USD 210 mln. The company ended 2006 with profits of nealy USD 11 mln, a decline of 40% yoy. Last month saw UkrAvto listed on the PFTS and the company’s president Tariel Vasadze, anounce plans to issue Eurobonds and hold an IPO on a foreign market in 2007. According to Vasadze the company is still examining all of its options, but was seeking to raise over USD 250 mln.
