Foreign biotech company, co-founded by the Ministry of Finance of the Kyrgyz Republic, to increase capital

The MedVetCity+ Centre for the Development and Implementation of Innovative Technologies held an extraordinary meeting on 12 November. The main item on the agenda was an increase in the authorised capital.

The Ministry of Finance of the Republic is also listed among the founders of the company.

The key decision of the meeting was the approval of a second issue of shares. As part of this, 2.5 million ordinary registered shares with a par value of 100 KGS each will be issued. Thus, the company plans to raise 250 million KGS.

For a company working in the field of biotechnology research and development, increasing capital looks like preparation for expansion or even the launch of programmes.

In connection with the decision, the shareholders, which include MedVetCity LLC and Medea LLC alongside the Ministry of Finance, also approved amendments to the MedVetCity+ Charter and instructed the company to undergo state re-registration.