Business
Freedom Holding Corp. Completes Acquisition of Prime Executions, Inc.
ALMATY, KAZAKHSTAN / ACCESSWIRE / January 6, 2021 / Freedom Holding Corp. (NASDAQ:FRHC) (the "Company") today announced the successful completion of its
About this update from Freedom Holding Corp.
[{"type":"text","content":"ALMATY, KAZAKHSTAN / ACCESSWIRE / January 6, 2021 / Freedom Holding Corp. (NASDAQ:FRHC) (the \"Company\") today announced the successful completion of its acquisition of Prime Executions, Inc., (\"Prime\") a broker dealer registered with the U.S. Securities and Exchange Commission and member of the New York Stock Exchange (\"NYSE\"), where it acts as an agency only broker dealer operating from the floor of the NYSE. The acquisition marks the Company's initial entry into the U.S. markets.Commenting on the transaction, Robert Wotczak, Prime's newly appointed President and Chief Executive Officer, stated, \"This is an exciting time for Freedom Holding Corp. and for Prime Executions. It represents a foundational acquisition for Freedom in the US market while allowing Prime to continue its legacy as a premier provider of institutional trading. I am looking forward to helping build a growing capital markets organization that serves its current and future constituencies both in Eurasia and the U.S.\"Timur Turlov, Freedom Holding Corp. Chief Executive Officer stated, \"This acquisition results in a well-supported, highly experienced and talented trade executions organization that will be well positioned to meet the evolving needs of Prime's existing customers and of the Company. In December 2020, the combined trading volume of Prime and the Company exceeded 1.06 billion shares and we look forward to additional valuable synergies we expect to be created through this transaction.\"Poulton & Yordan acted as legal advisor to Freedom Holding Corp.About Prime ExecutionsPrime Executions was founded in 1986 and today is a qualified \"Blue Line\" NYSE brokerage firm able to access multiple marketplaces to trade on average more than 630,000,000 shares per month to meet client needs. Prime Executions combines an experienced sales team, brokers and all the available technologies provided by the NYSE and several outside vendors to provide exceptional fill rates and less shortfall slippage to a wide variety of clients on both the buy side and sell side. Additional information regarding Prime Executions may be viewed at its website www.primexe.com.About Freedom Holding Corp.Freedom Holding Corp., a Nevada corporation, is a financial services holding company conducting retail financial brokerage, investment counseling, securities trading, investment ba...