Russia’s Gazprom CEO sees company’s stock undervalued
MOSCOW, May 16 (PRIME) -- Russia’s natural gas giant Gazprom CEO Alexei Miller believes that the company’s shares are undervalued, RIA Novosti reported late Wednesday.
“When it comes to the price dynamics of Gazprom’s shares, I may say, that the company is undoubtedly undervalued. We have a number of plans, ideas, on the matter, which we are going to discuss in the near future,” Miller told reporters.
Gazprom’s board of directors will consider measures aimed at increasing the company’s capitalization at a meeting on May 21.
The company’s capitalization has fallen below U.S. $100 billion. Its peak was at the pre-crisis 2007 year, when the capitalization amounted to $330.9 billion.
Gazprom’s share price fell 2.58% by the closing bell on Wednesday to 122.3 rubles.
(31.4281 rubles – U.S. $1)
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