Business
Freedom Holding Acquires Stake in Ukrainian Exchange
ALMATY, KAZAKHSTAN / ACCESSWIRE / June 7, 2020 / Freedom Holding Corp. (NASDAQ:FRHC) (the "Company") today announced that it has completed the purchase of a
About this update from Freedom Holding Corp.
[{"type":"text","content":"ALMATY, KAZAKHSTAN / ACCESSWIRE / June 7, 2020 / Freedom Holding Corp. (NASDAQ:FRHC) (the \"Company\") today announced that it has completed the purchase of a 20% equity stake in the Ukrainian Exchange, JSC headquartered in Kiev, Ukraine.\"The Ukrainian Exchange is the leading local securities market for equities and derivatives in Ukraine,\" stated Company CEO, Timur Turlov, also noting that, \"the Ukrainian Exchange is committed to being a technology leader with an order-driven trading market and repo market trading system that results in convenience and cost savings for local securities market investors.\"In addition to its investment in the Ukrainian Exchange, the Company has ownership interests in Freedom Finance Ukraine, a licensed participant on the Exchange, which operates full-service retail securities brokerage with 13 branch offices and online trading platform serving investors in Ukraine.Turlov added, \"Our investment in the Ukrainian Exchange, like our recent purchase of a 13% interest in the St. Petersburg Stock Exchange, in Russia, demonstrates our commitment to the future of local exchanges serving local investors. We believe the Ukrainian Exchange has a bright future and will contribute to the economic growth and prosperity of the country and its citizens and our participation will strengthen our competitiveness in the region.\"About the Ukrainian ExchangeThe Ukrainian Exchange was established in 2008 and is recognized as one of the fastest developing exchanges in the world. It offers trading in a wide array of financial instruments from equities to futures and options.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...