/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
https://kase.kz/files/emitters/US_FRHC/us_frhc_reliz_060720.pdf
[2020-07-07]