Freedom Holding Corp. Announces New Office Opening in Uzbekistan
ALMATY, KAZAKHSTAN / ACCESSWIRE / April 9, 2018 / Freedom Holding Corp. (OTC PINK: FRHC) (the ''Company'') has announced the opening of its first branch office of Freedom Finance in Tashkent, Uzbekistan. The office will be located in the city's International Business Center and will initially employ 12 investment consultants.
Timur Turlov, Company CEO, announced that the Tashkent office will be managed by Evgeniy Mozheiko, who has been serving as the director of the Freedom Finance branch office in Pavlodar, Kazakhstan. ''Mr. Mozheiko has more than 15 years' experience in the financial sector and has been instrumental in opening and managing other successful Freedom Finance offices,'' Turlov stated. The office will be operating under licenses issued by the government's Center for Coordination and Development of the Securities Markets to act as an investment intermediary, investment consultant and trustee of investment assets. ''We believe our business philosophy, expertise and array of investment services that provide investors access to local, CIS and U.S. securities markets will be in demand in this vibrant but underserved region,'' noted Turlov.
Mozheiko stated, ''The opening of a branch in Uzbekistan is an exciting development for Freedom Finance. In terms of population Uzbekistan is the largest country in Central Asia and its economy has grown steadily over the past twenty years reaching in 2017 more than $30 billion annually with GDP growth of 5.3% and per capita income growth of 10.3%. This growth has been supported by several government reforms aimed at improving the country's business climate including stabilizing the country's monetary policy, liberalizing the currency exchange rates and the privatization of State-owned properties. In combination these changes have created strong growth opportunities for financial services providers.''
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 (CIS). The Company is a member of the Kazakhstan Stock Exchange (KASE), Moscow Exchange (MOEX), and Saint-Petersburg Exchange. The Company is headquartered in Almaty, Kazakhstan, with executive office locations in Russia and the United States. The Company employs more than 400 experienced professionals across branch offices in Kazakhstan, Russia, Kyrgyzstan, Ukraine and Cyprus.
OTC Market Group, Inc. operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks, including the Pink Open Market. Investors will be able to view Real Time Level II stock quotes for the Company at http://www.otcmarkets.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains ''forward-looking'' statements regarding the anticipated strong growth opportunities for financial services, the underserved nature of the market and demand for the Company's services within the market. 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.
The OTC Markets Group, Inc. has not approved nor disapproved of the contents of this press release.
SOURCE: Freedom Holding Corp.
Released April 9, 2018