Freedom Holding Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION

ACQUISITION

6 Months Ended

Sep. 30, 2020

NOTE 19 - ACQUISITION

On July 2, 2020, we completed the acquisition of Zerich, following receipt of approval from the Russian Federal Antimonopoly Service. Zerich commenced business in 1995 and is one of the oldest securities brokerage firms in Russia, currently ranking as the 19th largest brokerage house in Russia in terms of clients. The Company agreed to acquire Zerich for $7,110. The total purchase price was allocated as follows:

	Purchase price allocation
	As of July 2, 2020
Assets:
Cash and cash equivalents	$	26,760
Restricted cash		1,231
Trading securities		2,828
Fixed assets		8
Intangible assets		3,733
Right-of-use asset		454
Brokerage and other receivables		376
Other assets		94
Total assets	$	35,484

Liabilities:
Customer liabilities	$	25,799
Securities repurchase agreement obligation		1,600
Lease liabilities		497
Trade and other payables		104
Other liabilities		419
Total liabilities	$	28,419

Net assets acquired	$	7,065

Goodwill		45

Total purchase price	$	7,110