FRHC +.74 to 4.49 after posting EPS of $1.22 for Sep Q2 and $2.12 for the 6 month period .... mostly due to trading gains .... share count continues to rise rapidly due to acquisitions and stands at 48M on 11/14 up from a weighted average of just 22M in Q2 -
per the 10Q -
During the three months ended September 30, 2017, we recognized a net gain on trading securities of $32,134, which included $5,028 of realized net gain and $27,106 of unrealized net gain compared to a net gain of $3,700, which included $1,803 of net realized gain and $1,897 of unrealized net gain on trading securities for three months ended September 30, 2016. The main contributing factor to this change was increases in the share prices of JSC Kcell – Kazakhstan’s largest cellular service provider and JSC KEGOC– Kazakhstan’s largest electricity grid company held in our proprietary trading account which contributed $27,979 and $2,269 to recognized net gain on trading securities during the three months ended September 2017 and 2016, respectively.
On November 1, 2017, FRHC received notification from the Cyprus Securities and Exchange Commission (“CySEC”) that it had granted final regulatory approval to allow Timur Turlov to transfer ownership of Freedom CY and the securities brokerage and financial services business conducted by it in Cyprus to the Company. Receipt of CySEC approval was the final condition necessary to close the acquisition of Freedom CY and the parties closed the acquisition of Freedom CY on November 10, 2017. In exchange for his 100% equity interest in Freedom CY and the securities brokerage and financial services business conducted by it in Cyprus, Mr Turlov was issued 12,758,011 shares of Company common stock at the closing of the acquisition and Freedom CY became a wholly owned subsidiary of the Company.
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