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Kazakhstan-based Freedom Holding Corp. purchases Russian securities brokerage firm

Finance Materials 6 July 2020 18:01 (UTC +04:00)
Kazakhstan-based Freedom Holding Corp. purchases Russian securities brokerage firm

BAKU, Azerbaijan, Jul. 6

By Nargiz Sadikhova - Trend:

Kazakhstan’s Freedom Holding Corp. has concluded the acquisition of Russia’s IC Zerich Capital Management JSC, Trend reports with reference to the Freedom Holding Corp.

The acquisition followed receipt of approval from the Russian Federal Antimonopoly Service.

“Freedom Holding Corp., which has subsidiaries operating in several Eurasian countries, is adding Zerich Capital to its current Russian holdings that include the securities brokerage firm IC Freedom Finance, which is ranked as the 9th largest Russian securities firm, and Moscow-based Bank Freedom Finance,” the report said.

Freedom Holding Corp. expects the integration of Zerich Capital into its current business structure over the next several months to result in many advantages to existing Zerich Capital clients.

"Our robust technology platform will be a boon to the Zerich Capital clients and it greatly increase their convenience and ease of access to the leading international securities markets," Freedom Holding Corp. CEO, Timur Turlov said.

Turlov noted that strategic acquisitions have been, and he expects they will continue to be, foundational components of the growth strategy that has fueled the Company's rapid expansion into new markets and expanded product and service offerings over the past three years.

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 where it employs more than 1,500 persons.

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