Authorized capital stock is the largest amount of shares a company is permitted to issue. Authorized stock is the maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation.Outstanding shares are shares of stock that have been issued. Overview. Companies seeking to raise capital should carefully consider the alternative methods of issuing securities. Authorized capital includes paidup capital. Purpose, Represents the funds that are directly available for the company's use. The number of authorized shares is always equal to or greater than the number of issued shares. Issued share may include two types of stock:. The actual amount of money that shareholders have paid to the company for shares. Phoenix Mecano AG's share capital is fully paid up and consists of 960 500 registered shares (securities No. 126.133.