EXHIBIT 99.01
Freedom Holding Corp. Agrees to Acquire Bank Kassa
Nova
ALMATY, KAZAKHSTAN / ACCESSWIRE / August 3, 2020 / Freedom Holding
Corp. (Nasdaq: FRHC) (the "Company") today announced that acting
through Freedom Finance JSC, the Company has agreed to purchase
Bank Kassa Nova JSC headquartered in Nur-Sultan, Kazakhstan. Each
party has obtained corporate approval of the transaction. The
transaction is also subject to approval by the Committee on
Regulation of Natural Monopolies, Protection of Competition and
Consumers of the Ministry of National Economy of the Republic of
Kazakhstan and the Agency for Regulation and Development of the
Financial Market of the Republic of Kazakhstan.
Bank
Kassa Nova was established in 2009 and currently has nine branch
offices across Kazakhstan. The bank’s common shares are owned
by Fortebank JSC, a Kazakhstani bank, and its preferred shares
owned by Bulat Utemuratov. At the completion of the transaction
Bank Kassa Nova will be a wholly-owned subsidiary of Freedom
Finance JSC. It is expected that the required conditions to closing
will be completed by the end of the year.
The
acquisition of Bank Kassa Nova is expected to enhance the financial
services offerings of the Company in Kazakhstan where Freedom
Finance JSC currently operates 16 retail brokerage offices serving
Kazakhstani clientele. The bank acquisition is an extension of the
Company’s successful strategy pioneered in Russia where the
Company operates securities brokerage activities through IC Freedom
Finance LLC in tandem with focused banking services provided by
FFIN Bank LLC to provide a wide range of services to
clients.
Additional
information regarding the transaction is available in the
Company’s current report on Form 8-K, which may be reviewed
at: www.sec.gov.
About Freedom Holding Corp.
Freedom
Holding Corp. is a financial services holding company conducting
retail financial brokerage, investment counseling, securities
trading, investment banking and underwriting services through its
subsidiaries under the name of Freedom Finance in the Commonwealth
of Independent States where it employs more than 1,500 persons. The
Company is a professional participant in numerous securities
exchanges including the Kazakhstan Stock Exchange, Astana
International Exchange, Moscow Exchange, Saint-Petersburg Exchange,
Republican Stock Exchange of Tashkent and Ukrainian Exchange. The
Company is headquartered in Almaty, Kazakhstan, with executive
office locations in Russia and the United States.
The
Company's common shares are registered with the United States
Securities and Exchange Commission and are traded in the United
States on the Nasdaq Capital Market, operated by Nasdaq,
Inc.
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking" statements. All
forward-looking statements are subject to uncertainty and changes
in circumstances. Forward-looking statements are not guarantees of
future results or performance and involve risks, assumptions and
uncertainties that could cause actual events or results to differ
materially from the events or results described in, or anticipated
by, the forward-looking statements. Factors that could materially
affect such forward-looking statements include certain economic,
business and regulatory risks and factors identified in the
Company’s periodic and current reports filed with the
Securities and Exchange Commission. All forward-looking
statements are made only as of the date of this release and the
Company assumes no obligation to update forward-looking statements
to reflect subsequent events or circumstances. Readers should
not place undue reliance on these forward-looking
statements.
Website Disclosure
Freedom
Holding Corp. intends to use its website,
https://ir.freedomholdingcorp.com, as a means for disclosing
material non-public information and fo
Contact:
usoffice@freedomholdingcorp.com
SOURCE:
Freedom Holding Corp.