OREANDA-NEWS. March 10, 2011. CenterTelecom OJSC reports that its capitalization level on Moscow Interbank Currency Exchange (MICEX) for the first time exceeded USD 2.4 billion and continued growing. Since early 2011 the company's value increased by 13% reaching USD 274 million.

After trading session held March 1, 2011 the volume weighted average price (VWAP) of the company's common share reached RUB35.182; the VWAP of the company's preferred share was RUB27.013. CenterTelecom's total capitalization amounted to RUB69,726,080,499 (or USD 2.412 billion according to the Russia's Central Bank's exchange rate as of March 1, 2011).

Vaagn Martirosyan, General Director, CenterTelecom, said: "The increased capitalization level demonstrates that CenterTelecom has a proper development strategy. The company's value increased by 13% since the beginning of 2011, it's higher than the industry and stock market indices advance. It also means that our investors have trust in our business stability and future."