Share capital

The management board of an investment stock corporation with variable capital is empowered to increase the share capital repeatedly by issuing new investment shares against contributions. Founder shareholders and investment shareholders have a pre-emption right correspondingly to section 186 of the Stock Corporation Act; however, investment shareholders have a pre-emption right only where they are entitled to a voting right under section 109(3), second sentence. The share capital is increased upon the issue of the shares.