U.S. traders who have been frustrated with the lack of easy access to Russia's leading car maker just got a bit of extremely bittersweet news from Vladimir Putin himself.
On the one hand RNSDF is a much more liquid ADR than AVTZF, which technically has not moved a single share since early August. But that is still relatively cold comfort for traders who want a truly active stock in order to manage their risk while getting their taste of Russia's biggest native car company.
Moscow brokerage firm Troika has about 20% of AvtoVAZ that it could sell at the right price, while state-owned Russian Technologies could cough up the rest.
Renault partner Nissan (NSANY ) could emerge as a net buyer of AvtoVAZ shares in its own right.
AvtoVAZ has raised its sales by a spectacular 40% so far this year, with only around 40% of its total output going into Russia's version of the "cash for clunkers" subsidy program. In October alone, the company boosted its sales of Ladas and other models by roughly 70% on a year-over-year basis.
Right now, RNSDF seems to be the best way U.S. investors can fight their way into that growth story.