Freedom Holding Corp. Announces Acquisition of Asyl-Invest JSC
ALMATY, KAZAKHSTAN / ACCESSWIRE / May 9, 2018 / Freedom Holding Corp. (OTC PINK: FRHC) (the ''Company'') announced that its subsidiary Freedom Finance JSC, the largest retail brokerage firm in the Republic of Kazakhstan has successfully completed the acquisition of Asyl-Invest JSC. The equity capital of Freedom Finance after the transaction exceeds KZT 17.5 billion. The acquisition joins the two largest retail brokerage firms in Kazakhstan servicing now more than 50,000 client accounts.
The acquisition provides thousands of new investors with access to Freedom Finance's TRADERNET trading platform as well as fourteen branch offices across Kazakhstan and more than 223 employees working as customer consultants, securities analysts and traders in Kazakhstan. ''This has been a complex transaction. Many specialists have spent months working through the details of the acquisition and regulatory compliance issues,'' stated Timur Turlov, Company CEO. ''We have appreciated the support and cooperation of the staff at the National Bank of the Republic of Kazakhstan, the Kazakhstan Stock Exchange, and the Central Securities Depository which have worked closely with our team to achieve this result,'' Turlov noted.
Turlov said he expects that integration of new clients into the Freedom Finance systems will be completed with little or no inconvenience to existing Asyl-Invest clients. Freedom Finance will maintain complete client history files and client assets will be transferred directly to each client account with Freedom Finance.
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 has 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. 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 May 9, 2018