# 3ABCDEFGHIJKLMNOPQRSTUVWYZ

Authorized Share Capital

The maximum value of the shares, calculated at par value, that can be issued under a firm's articles of association. It can be increased only with shareholders' approval. Most companies' authorised capital exceeds the amount that has been issued as it allows them to quickly issue more shares if necessary.

See also: Issued Capital, Reserve Capital, Paid-up Capital