Freedom Holding Corp (FRHC)

[HMB2010]

"Freedom Finance" company bought its main competitor

Finance / MarketingInvestments
May 12, 2017
The deal will be officially announced in Almaty on Tuesday, May 16, at the event dedicated to the press conference
Photo: ya-cleaning.ru
The invitation to the press conference said that " among the shareholders of JSC" Freedom Finance "and JSC" Asyl-Invest "agreement was reached on the accession of JSC" Asyl-Invest "JSC to" Freedom Finance ". It is expected that the transaction will tell the general director of investment group "Freedom Finance" Timur Turlov .


The intrigue of the deal is that Freedom Finance buys its direct competitor. Thus, "Freedom Finance" become the largest player in the brokerage market in Kazakhstan. The transaction amount was not disclosed, but according to the source Forbes.kz , it " may be equal to the volume of trading in shares Asyl Invest on KASE April 28, 2017 - $ 5,184,300 ."

A group of "Freedom Finance" company was founded 9 years ago. According to the company, its own funds amount to $ 20 million , total assets under management of group of companies - more than $ 150 million . "Freedom Finance" provides full support for the work of clients in the markets: ranging from generating investment ideas, analytical support, finishing with the help of accounting in trade and specialist consultations.

Asyl Invest also provides brokerage services, is engaged in asset management.

At the same time, both companies have been among the most active operators of so-called "People's IPO».

The process of integration of the two companies has already begun: in Asyl Invest occurred reshuffle. In particular, he left his post as Chairman of the Board of Aslan Dusembekov , as stated in the decision of Asyl Invest Board of Directors. From "Freedom Finance" in the company came to the Director of Corporate Finance Department Saken Usera - to the post of chairman of the board advisor.







https://forbes.kz/finances/investment/kompaniya_fridom_finans_kupila_svoego_osnovnogo_konkurenta