OREANDA-NEWS. On 14 July 2009 was announced, that Veles Capital’s authorized capital was increased + 100 mln RUR and formed 950 mln RUR. The alterations to the constitutive documents were registered in July. The authorized capital increase was caused by additional contribution of the company’s founders.

According to Veles Capital’s CEO Alexey Gnedovsky, “this is the third capital increase since autumn 2008. Thus Veles Capital demonstrates complete readiness to cover risks by company’s own means”.

“We acknowledge the importance of supporting the high level of capital adequacy ratio so our clients may feel comfortable even in current hard financial situation”, - said Alexey Gnedovsky. He also added that this is not the first financial crisis for the company, so the owners fully understand the importance of adequate actions”

Veles Capital IC has been operating on the Russian financial market since 1995. The company renders trust management and brokerage services on Russian and foreign financial markets, as well as corporate finance, financial consulting and wealth management. Veles Capital is rated amongst TOP-10 of the Russian largest investment companies in total turnover of securities (RBC and Kommersant ratings). The company is acknowledged leader of the promissory-notes market, is rated amongst TOP-3 of the Russian largest bond market operators, TOP-20 of the larders stock market operators.

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.