/KASE, December 9, 2021/ – Freedom Holding Corp. (USA), whose shares are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release dated December 9, 2021:
quote
Freedom Holding Corp. signed a preliminary agreement on the acquisition of
Insurance Company "Freedom Finance Insurance" JSC and Life Insurance
Company "Freedom Finance Life" JSC from the Chief Executive Officer of the
holding Timur Turlov. The planned amount of transactions is 6 billion tenge and
5.4 billion tenge, respectively; the companies will be bought for cash. These
assets are acquired at the cost of their capital. The transaction will be
completed upon receipt of the required regulatory approval.
After the end of the purchase procedure, the current chairmen of the
Management Board will remain the heads of the companies: Insurance Company
"Freedom Finance Insurance" JSC – Daulet Akizhanov, Life Insurance Company
"Freedom Finance Life" JSC – Azamat Yerdessov, while the companies
themselves will continue to operate normally.
In addition, the Holding plans to purchase a universal online payment aggregator
PayBox. money after receiving approval from the Committee for Regulation of
Natural Monopolies and the online ticket service Ticketon (all permissions
received). These companies will be acquired from third parties, the structure
and amount of transactions are in the process of agreement between the
parties.
unquote
The complete press release is available on KASE website –
https://kase.kz/files/emitters/FRHC_KZ/frhc_reliz_091221.pdf
[2021-12-09]