OREANDA-NEWS. November 9, 2010. The authorized capital of the investment company Veles Capital increased to 26.82 million EUR (1.15 billion RUR) according to the registered alterations to the statutory documents.

The increase worth 2.33 mln EUR (100 mln RUR) was caused by additional contribution of the company’s founders. This is the second capital increase in 2010. Since July 2008 Veles Capital’s authorized capital increased more then twice.

Veles Capital’s CEO Alexei Gnedovsky said: "We are directionally increasing the capitalization of the company and thereby we are demonstrating our readiness to cover risks on the instable market. Thus our clients and counterparts can feel safer”.

In September 2010 Standard&Poors experts have analyzed Veles Capital’s intermediate results and have approved a high level of Veles Capital capitalization. As of 30 June 2010 the equity of the company amounted to 37.7 mln EUR (1.6 bln RUR) and the volume of assets to 90.5 mln EUR (3.5 bln RUR).

Veles Capital IC has been operating on the Russian financial market since 1995 and rated amongst TOP-10 of Russian largest investment companies on total turnover of securities. 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 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.