OREANDA-NEWS. On 29 December 2008 was announced, that Veles Capital IC authorized capital increased +100 mln RUR and formed 750 mln RUR (about 27 mln USD). The alterations to the constitutive documents were registered in December.

The authorized capital increase was caused by company’s active development and adherence of its founders to principle of capital sufficiency high level maintenance.

 “In hard financial situation it is very important to support clients’ and contactors’ confidence. Increasing the authorized capital we express founders’ complete readiness to cover risks by company’s own means”, - Veles Capital General Director Alexey Gnedovsky says. He also adds that authorized capital increase is correspondent to company’s development strategy as universal investment bank with the full range of services and the company, holding leading positions on the main business fields.

Veles Capital IC has been operating on the Russian financial market since 1995 and is rated in the TOP-10 amongst Russian largest investment companies.  Veles Capital is the leader of Russian promissory notes market (the turnover in 2007 formed USD 53 bn), is rated in the TOP-3 amongst largest operators of the bond market (the turnover in 2007 formed USD 43,5 bn), in TOP-20 amongst largest operators of stock market (the turnover in 2007 formed USD 10,6 bn) and TOP-15 amongst investment companies on equity capital and assets volume.

Veles Capital group includes: Veles Capital Investment Company, Veles Management assets Management Company, Veles Capital Development (construction and development services in Russia and abroad), Veles Lex (legal consulting), Veles Lasing, Veles Personnel (HR consulting). Also Veles Capital has subsidiary companies in Cyprus and Ukraine.