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UPDATE 1-Fiat unlikely to need more cash soon - Ifil chmn

(Adds Ifil chairman quotes, background, share prices)

TURIN, June 22 (Reuters) - Fiat is unlikely to need more capital in the near future, the chairman of holding company Ifil -- the Italian carmaker and industrial group's biggest shareholder -- said on Tuesday.

"Ifil does not expect Fiat to have further financing requirements in the near future," Gianluigi Gabetti told reporters after an Ifil shareholders meeting.

Ifil, controlled by the Fiat-founding Agnelli family, has a stake of just over 30 percent in Fiat and last year took part in a 1.8 billion-euro recapitalisation of the group to raise funds for a turnaround programme.

Fiat management has previously said the capital increases and revenues raised by the sale of assets would be enough to fund the turnaround plan.

"We think we have done our part," Gabetti said.

Fiat shares on Tuesday earlier came within a cent of a euro of their highest level in 2004 at 6.58 euros and were trading at 6.54 euros at 1320 GMT.

Ifil shares were up 0.9 percent at 3.07 euros after having earlier hit their highest level since early 2003 at 3.13 euros.