OREANDA-NEWS. On 17 June 2008 was announced, that Veles Capital IC holds a road-show of bank “Kedr” CLN issue for \\\\$100 mn. The road-show is taking place June 9–20. During this time it is planed to hold about 30 meetings with leading banks and investment companies of Latvia, Switzerland, Germany, Luxemburg, UK and Cyprus.

I. Sternin, bank “Kedr” board chairman, A.Gnedovsky, Veles Capital IC CEO, M.Zak, head of Veles Capital IC Research Departmen, E. Zheleznova, director of Veles Capital IC Clients Department and Y.Yfriakov, head of sales department and structuring middle-office department are participating in road-show.

Commercial bank “Kedr” was established in 1991 and is rated in TOP 3 amongst largest banks of Siberia region  on assets volume, credit portfolio volume and number of corporate and individual deposits (Expert – Siberia magazine data, results of 2006). Bank has 14 business units in different regions of Russian Federation and is rated in TOP 20 of largest Russian banks by number of representative offices. According to bank IAS report on results of 2007, “Kedr” assets volume formed \\\\$ 739,8 mn ( 62,3% compared with 2006 results), equity capital  \\\\$ 88,5 mn (+60,6%), credit portfolio \\\\$ 464,3 mn (+56,1), income \\\\$ 53,4 (+53,9%), operational income \\\\$18,5 mln (+74,5%), net income \\\\$13,3 mn (+70.5). Bank has Moody’s rating B2/NP/E+ with a positive forecast.

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 \\\\$53 bn), is rated in the TOP-3 amongst largest operators of the bond market (the turnover in 2007 formed \\\\$43,5 bn), in TOP-20 amongst largest operators of stock market (the turnover in 2007 formed \\\\$10,6 bn) and TOP-15 amongst investment companies on equity capital and assets volume.