KUKE Finance increases its share capital
KUKE has increased its share capital by PLN 10.3 million – a subsequent increase in the past three months. KUKE Finance is a factoring company which started operations in November 2014. The growth of share capital will allow KUKE Finance to expand its business of financing domestic and export receivables, especially with respect to the Eastern markets, using insurance facilities offered by the Export Credit Insurance Corporation (KUKE).
Our offer is particularly aimed at those Clients which need financing and insurance coverage of transactions with buyers based on the Eastern markets. To prove my point, I would like to mention, that our first factoring agreement was concluded with a Client from the chemical industry and concerns sales to Russia. During the first month of our cooperation we have financed invoices for a total of PLN 4 million. Hence, in my opinion, the transaction is developing successfully. – says Konrad Klimek, President of the Management Board of KUKE Finance.
On 20 January 2015, the District Court for the Capital City of Warsaw, XII Commercial Department of the National Court Register, has registered an increase in the share capital of KUKE Finance from PLN 14.7 million to PLN 20 million.
The increasing of share capital has been carried out by issuing, through closed subscription, 103 000 new series “C” inscribed shares with a nominal value of PLN 100 each. All shares have been acquired by the present shareholder – Export Credit Insurance Corporation (KUKE).
Thanks to additional funds we will be able carry out our plans focused on growing our factoring business. At the same time, we continue to strive to build our brand and to strengthen the position of KUKE Finance on the B2B financial services market. Our services are addressed both to SMEs, as well as larger companies in need of assistance form a stable partner regarding financing and managing their trade receivables. – adds Konrad Klimek.