Romania's Verida Credit IFN ups share capital 3.6 times to EUR 3.45m

Romania's mortgage credit company Verida Credit IFN will increase its share capital 3.6 times to 3.45 million euros, with the contribution of the majority shareholder Ipocredit Holding NV, the Official Gazette reads.

Verida Credit IFN had a share capital of 950,000 euros before the hike. Ipocredit Holding NV subscribed all 600.000 new issued shares for a total sum of 2.5 million euros.

Verida Credit is controlled by Ipocredit Holding NV, which owns 99.99 percent of the share capital. The company grants only real estate and mortgage credits and broke into the Romanian market at the beginning of July.

The company plans to grant credits totaling 100 million euros by the end of next year and targets an annual credit volume of 200 million euros by 2011.

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