Freedom Holding Corp (FRHC)

[Quintessence]

Freedom Finance summed up the subscription campaign for shares of Kokand Mechanical Plant JSC

More than two thousand eight hundred investors became holders of shares of one of the largest enterprises of Uzbekistan and got the opportunity to receive income in the form of dividends.

https://uznews.uz/ru/article/13136

December 24, 2018, the collection of applications for the purchase of shares of “Kokand Mechanical Plant” JSC ended. According to the results of the subscription campaign, more than two thousand eight hundred investors became holders of shares of one of the largest enterprises of Uzbekistan and were able to receive income in the form of dividends, as well as conduct purchase and sale operations when stock prices fluctuate on the stock exchange. According to the results of the campaign, the securities issued for the subscription were sold in full.

December 24, 2018, the collection of applications for the purchase of shares of “Kokand Mechanical Plant” JSC ended. According to the results of the Public Offer SPO of shares of Kokand Mechanical Plant JSC, it was an important step in the development of the stock market of Uzbekistan and revealed the country's investment potential to citizens and businesses. Over the period of the subscription campaign, the specialists of IE Freedom Finance LLC opened more than 3.3 thousand new client accounts.

As part of the secondary public offering (SPO), it was planned to sell 2.2 million shares of KMZ JSC. According to the Toshkent Stock Exchange, 2,843 applications were received for a total of 2,821,065 shares, which exceeded the amount of securities offered for subscription by 26.14%. The amount of funds raised amounted to 2.93 billion soums. The main part of the applications was filed through the official partner of the exchange, IP LLC Freedom Finance, which attracted 2,312 applications for 2,262,672 shares, ensuring the sale of the securities issued for the subscription to 101.17%. The volume of funds raised through IE LLC “Freedom Finance” amounted to 2.34 billion soums. when stock prices fluctuate on the stock exchange. According to the results of the campaign, the securities issued for the subscription were sold in full.

The secondary public offer was held in the form of an auction at prices proposed by investors, taking into account the priority of the highest price. The maximum bid price reached 4000 soums, at this price one offer was received for 10 shares. Most subscribers (77.4%) submitted bids in the range from 1,000 to 1050 soums per share.

“The first acquaintance with the stock market of Uzbekistan took place and was successful. It takes time to popularize operations on the stock exchange with the population, but the process is already running. The number of applications received for the purchase of shares of JSC "KMZ" significantly exceeded the set amount. An important role in this was played by educational sessions on the investment mechanism of the Uzbek stock market, which IE Freedom Finance LLC together with the NB FEA of Uzbekistan, the State Competition Committee, the Securities Market Coordination and Development Center and the RSE "Toshkent" held in 7 cities as part of a large-scale Road Show. We will continue to work to ensure that people begin to delve deeper into the possibilities of making money on securities and begin to actively participate in operations on the stock exchange, ”commented Yevgeny Mozheiko, executive director of the IP Freedom Finance LLC.

On December 28, 2018, the ceremony of determining the winners of the promotion campaign as part of the KMZ SPO subscription campaign from Freedom Finance LLC will take place in the shopping and entertainment center Compass. The company will raffle off a Chevrolet Malibu car, 30 smartphones and 100 paverbank among individual investors who have applied for participation in the KMZ JSC SPO through the IP Freedom Finance LLC.

The sale of shares of Kokand Mechanical Plant JSC by means of a secondary public offering (SPO) was approved by Resolution of the Cabinet of Ministers of 10.05.2017 No. 268 “On organizing a public offering of shares on the stock exchange”. This resolution was adopted pursuant to Decree of the President of the Republic of Uzbekistan dated January 17, 2017 No. UP-4933 “On measures to further simplify procedures and accelerate the sale of state-owned objects for business purposes”, as well as to introduce forms widely used in international practice. the implementation of state-owned objects and the attraction of wide strata of the population to the stock market.


About Freedom Finance

Freedom Finance is a leading investment broker in Central Asia, providing private investors with access to the stock markets of Uzbekistan, Kyrgyzstan, Ukraine, Kazakhstan, Russia, the United States and Europe. The company has built a network of 36 offices in Russia, 16 representative offices in Kazakhstan, as well as its own offices in Kiev, Tashkent and Bishkek. The company ranks first in Kazakhstan by the number of customers (more than 49 thousand) and 9th place in the Russian Federation (more than 24 thousand). In Russia, Freedom Finance owns the eponymous bank (Freedom Finance Bank, FFINBank), the online retail store of Freedom24 shares, as well as Nettrader and the TRADERNET platform. Freedom Finance is actively developing investment banking for medium-sized businesses. Freedom Finance successfully organized in Kazakhstan the placements of BAST JSC, AZM JSC, Bank of Astana JSC.

The company is a member of the international holding Freedom Holding Corp. Shares of the holding company are listed on OTCQX BestMarket in the USA and are publicly available to investors, shares are listed under the ticker FRHC. The holding's activities are regulated by the Securities and Exchange Commission (SEC, USA). The equity of the group of companies is $ 109 million. The turnover on client accounts is $ 14 billion, the value of client assets is more than $ 900 million, the number of client accounts is over 100 thousand. In the market since 2008.

In Uzbekistan, the representative office of Freedom Holding Corp is IP Freedom Finance LLC in the city of Tashkent. The branch network covers Fergana, Andijan, Samarkand, Bukhara, Navoi, Karshi and Nukus. The programs developed by the strategists of IE Freedom Finance LLC train people to manage their finances competently in order to later become co-owners of the largest national enterprises. The company conducts training programs in which everyone can participate.