Freedom Holding Corp. Acquires Russian Brokerage Firm
ALMATY, KAZAKHSTAN / ACCESSWIRE / July 6, 2020 / Freedom Holding Corp. (NASDAQ:FRHC) (the "Company") today announced that the Company has concluded the acquisition of IC ZERICH Capital Management JSC following receipt of approval from the Russian Federal Antimonopoly Service. Zerich Capital 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, which has subsidiaries operating in several Eurasian countries, is adding Zerich Capital to its current Russian holdings that include the securities brokerage firm IC Freedom Finance, which is ranked as the 9th largest Russian securities firm, and Moscow-based Bank Freedom Finance. The Company expects the integration of Zerich Capital into its current business structure over the next several months to result in many advantages to existing Zerich Capital clients. "Our robust technology platform will be a boon to the Zerich Capital clients and greatly increase their convenience and ease of access to the leading international securities markets" said Company CEO, Timur Turlov.
Turlov noted that strategic acquisitions have been, and he expects they will continue to be, foundational components of the growth strategy that has fueled the Company's rapid expansion into new markets and expanded product and service offerings over the past three years.
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 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 July 6, 2020