Freedom Holding Acquires Stake in Ukrainian Exchange
ALMATY, KAZAKHSTAN / ACCESSWIRE / June 7, 2020 / Freedom Holding Corp. (NASDAQ:FRHC) (the "Company") today announced that it has completed the purchase of a 20% equity stake in the Ukrainian Exchange, JSC headquartered in Kiev, Ukraine.
"The Ukrainian Exchange is the leading local securities market for equities and derivatives in Ukraine," stated Company CEO, Timur Turlov, also noting that, "the Ukrainian Exchange is committed to being a technology leader with an order-driven trading market and repo market trading system that results in convenience and cost savings for local securities market investors."
In addition to its investment in the Ukrainian Exchange, the Company has ownership interests in Freedom Finance Ukraine, a licensed participant on the Exchange, which operates full-service retail securities brokerage with 13 branch offices and online trading platform serving investors in Ukraine.
Turlov added, "Our investment in the Ukrainian Exchange, like our recent purchase of a 13% interest in the St. Petersburg Stock Exchange, in Russia, demonstrates our commitment to the future of local exchanges serving local investors. We believe the Ukrainian Exchange has a bright future and will contribute to the economic growth and prosperity of the country and its citizens and our participation will strengthen our competitiveness in the region."
About the Ukrainian Exchange
The Ukrainian Exchange was established in 2008 and is recognized as one of the fastest developing exchanges in the world. It offers trading in a wide array of financial instruments from equities to futures and options.
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. The Company is a professional participant of the KASE, AIX, Moscow Exchange, the Saint-Petersburg Exchange, the Republican Stock Exchange of Tashkent and the Ukrainian Exchange. The Company is headquartered in Almaty, Kazakhstan, with executive office locations in Russia and the United States. The Company operates more than 70 branch offices in Kazakhstan, Russia, Kyrgyzstan, Ukraine, Uzbekistan, Germany and Cyprus.
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 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.
Freedom Holding Corp. intends to use its website, https://ir.freedomholdingcorp.com, as a means for disclosing material non-public information and for complying with SEC Regulation FD and other disclosure obligations.
SOURCE: Freedom Holding Corp.
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Released June 7, 2020