Freedom Holding Corp (FRHC)

[Supervisor]

Freedom Finance hopes to raise $100 mln from IPO, private placement
LONDON, Nov 29 (PRIME) -- Russian investment company Freedom Finance plans to raise more than $100 million through a private share placement and an ensuing initial public offering (IPO) on the New York Stock Exchange (NYSE), CEO Timur Turlov told reporters on Wednesday.

The company is now selling the shares privately to about 200 investors from Russia, Kazakhstan, and other countries of Europe and the Middle East, and plans to list its shares on the NYSE and on the Moscow Exchange at the beginning of 2018, he said.

“Our estimates show that the total amount of raised capital will exceed $100 million after the placement, and will be enough to conduct our investment and banking activity in our region,” he said, adding that the company plans to attract large international investors during the IPO in the U.S. with a simultaneous listing in Moscow.

“After the placements, up to 50% of our shares will be in the hands of investors, and about 8% will be left in the hands of management,” he said.

Freedom Finance operates in Russia and the CIS, It organizes access to trade on the largest U.S. bourses, including the NYSE, NASDAQ, AMEX, CBOT, CBOE, and CME, as well as on the Moscow Exchange, in London, and Kazakhstan. The company also provides brokerage and trust management services. Its charter capital amounts to 1.58 billion rubles.

(58.4125 rubles – U.S. $1)

End

29.11.2017 18:29

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