OREANDA-NEWS. January 11, 2011. CenterTelecom OJSC reports that its capitalization level on Moscow Interbank Currency Exchange (MICEX) for the first time exceeded USD 2 billion and continued growing.

After trading session held December 13, 2010 the volume weighted average price (VWAP) of the company's common share reached RUB32.115; the VWAP of the company's preferred share was RUB24.244. CenterTelecom's total capitalization amounted to RUB63,429,859,418 (or USD 2.055 billion according to the Russia's Central Bank's exchange rate as of December 13, 2010). During a week CenterTelecom's share price continued growing. As of December 17, 2010 the company's capitalization reached RUB65,999,892,600 (or USD 2.146 billion according to the Russia's Central Bank's exchange rate as of December 17, 2010). Thus within the week the company's share price increased by 6.65%. CenterTelecom's capitalization grew 79.1% since early 2010.

Vaagn Martirosyan, General Director, CenterTelecom, said: "A level of capitalization is one of key performance indicators for any company. 80% growth of CenterTelecom's business value reflects the investors' trust in its development strategy and potential of the company's share growth. This is a recognition of our managers' efforts."