Freedom Holding Corp. - FRHC STOCK NEWS

Freedom Holding Corp. has announced an agreement to acquire the online travel platforms Aviata and Chocotravel from Chocofamily Holding LLP for $32.3 million. This acquisition is expected to be finalized by year-end and is seen as a strategic move to enhance Freedom's digital services ecosystem.

The platforms cater to over one million air travelers in Kazakhstan, aligning with the growing trend in air travel, which saw a 17% increase in passengers last year. Freedom plans to integrate these services into its banking platform, aiming for enhanced customer engagement and revenue growth through synergies.

This deal also helps Chocofamily strengthen its focus on delivery and advertising technology projects while alleviating its debt burden.

Freedom Holding Corp. (NASDAQ: FRHC) has finalized the acquisition of LD Micro from SRAX (NASDAQ: SRAX) for a total consideration of $8.3 million. The deal involves $4 million in cash and $4.3 million in common stock. LD Micro is known for organizing premier small-cap conferences and providing the LD Micro Index, which tracks micro-cap stock performance.

With this acquisition, Freedom aims to enhance its financial services and expand its offerings, leveraging LD Micro's established brand. The companies foresee various synergies benefiting clients and investors alike.

Freedom Holding Corp. has successfully completed the divestiture of its businesses in Russia, following the approval of the Central Bank of the Russian Federation. The sale encompasses 100% of the shares of IC Freedom Finance LLC and its subsidiary Bank Freedom Finance LLC to Maxim Povalishin for approximately $140 million. This amount includes $33 million in cash and the assignment of a liability of about $107 million. Post-sale, the acquired companies will operate under the new name “Tsifra.” CEO Timur Turlov emphasized the decision to divest was made in light of geopolitical tensions, aiming to enhance the company's global presence from Almaty and New York.

Freedom Holding Corp. (Nasdaq: FRHC) has announced a definitive agreement to acquire Maxim Group LLC for approximately $400 million in cash and stock. This acquisition aims to enhance Freedom's capital markets, research, and investment banking capabilities, expanding its reach into the U.S. market. Maxim Group, a full-service investment bank, will complement Freedom's operations with a strong global presence in Europe and Asia. The deal is part of Freedom's ongoing strategy to grow its footprint in financial services, following its earlier acquisition of Prime Executions, Inc. Completion of the transaction is subject to regulatory approvals.

Freedom Holding Corp. announces the appointment of Jon V. Rogers, a 20-year veteran from Citigroup, as Executive Vice President at Freedom Capital Markets (FCM). His extensive experience in equity transactions and financial analysis is expected to enhance FCM's investment banking operations and strategic initiatives, expanding its U.S. footprint. Rogers holds an MBA from the Wharton School and has previously earned accolades as a Senior Automotive Analyst. This appointment underscores Freedom's commitment to growth in the financial services sector.

Freedom Holding Corp. (Nasdaq: FRHC) announced that its European subsidiary, Freedom Finance Europe, has gained direct membership with EuroCCP, a key player in Europe's clearing and settlement space. This membership allows for the settlement and execution of client orders through Euroclear, enhancing trade confidence and settlement reliability. This move is expected to bolster Freedom Finance Europe's reputation in the European financial market, as highlighted by Evgeny Tyapkin, executive director of Freedom Finance Europe.

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