Freedom Holding Corp. Subsidiary Granted Licenses by AIFC
ALMATY, KAZAKHSTAN / ACCESSWIRE / May 22, 2020 / Freedom Holding Corp. (NASDAQ:FRHC) (the "Company") today announced that its recently formed subsidiary, Freedom Finance Global PLC ("FF Global") organized under the Astana International Financial Centre ("AIFC") has been granted a securities license by the Astana Financial Services Authority ("AFSA") that will allow it to begin to conduct an array of securities market related services to its clients including retail brokerage services accessing the Astana International Exchange ("AIX") and international securities markets.
Timur Turlov, CEO of Freedom Holding Corp, stated, "the opening of a securities firm in the AIFC will create opportunities for many of our Kazakhstani clients to better tailor their investment portfolios to meet their international investment objectives. We expect this addition to the Company will strengthen our competitiveness in the region and contribute to the continuing success of the AIFC."
The Company expects to commence opening accounts for customers at FF Global in July 2020. The Company will also continue the growth and expansion of its subsidiary Freedom Finance JSC, a Kazakhstani joint stock company, licensed in the Republic of Kazakhstan to provide access to the Kazakhstan Stock Exchange ("KASE") and the AIX, as well as investment banking services to commercial businesses in Kazakhstan.
About the AIFC
The Republic of Kazakhstan created the Astana International Financial Centre JSC to offer businesses and investors a complete and comprehensive legal platform for attracting, implementing and protecting investments and to provide a friendly tax regime to participants. The AIFC legal jurisdiction is based on the principles, norms and precedents of the law of England and Wales and (or) standards applied by the world's leading financial centers. The AIFC operates both the AFSA and the AIX which conducts securities exchange activities on Nasdaq Financial Framework trading technology.
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 May 22, 2020