OREANDA-NEWS. April 30, 2010. Veles Capital’s authorized capital was increases and formed 1 050 mln RUR. The alterations to the constitutive documents were registered in April.

The increase worth 100 mln RUR was caused by additional contribution of the company’s founders. This is the 4th capital increase for the last two years. Since July 2008 authorized capital increased in two times from 500 mln RUR to 1 050 RUR.

Veles Capital’s CEO Alexei Gnedovsky said: “The trust of our clients and counterparts is very important for us. The crisis showed that in the situation of economical turbulence clients choose companies with stable reputation and long history. Increasing the authorized capital regularly we demonstrate our complete readiness to cover risks by company’s own means. Thus our clients and counterparts can feel safe working with us”.

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