Freedom Holding Corp. acquires 100% stake in IC ZERICH Capital Management JSC

07.07.20 15:42
/KASE, July 7, 2020/ – Freedom Holding Corp. (Salt Lake City), whose shares are officially listed on the Kazakhstan Stock Exchange (KASE), has provided KASE with the press release dated July 6, 2020, which states as follows: quote Freedom Holding Corp. (Nasdaq: FRHC) completed the deal on the acquisition of ZERICH Capital Management after receiving the approval of the Russian Federal Antimonopoly Service. The main purpose of the acquisition is to further expand the business of Freedom Holding's subsidiary, IC Freedom Finance in Russia. Timur Turlov, CEO, Freedom Holding Corp.: "Mergers and acquisitions are part of Freedom Holding Corp.'s business development strategy, which has contributed to the rapid expansion into new markets and expanded product and service offerings over the past three years. Acquisition of ZERICH Capital Management’s shares allows IC Freedom Finance LLC (Russian part of the holding) to strengthen its position in the Russian market and increase its client base. We expect the integration of ZERICH Capital into its current business structure over the next several months to result in many advantages to existing ZERICH Capital Management’s clients. They will have access to the holding's advanced brokerage and banking services and our robust technology platform will greatly increase their convenience and ease of access to the leading international securities markets". unquote Full version of the press release is available on the KASE website [2020-07-07]