secwatch.observer — SEC 8-K summary
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Issuer:     Freedom Holding Corp. (FRHC)
CIK:        0000924805
Form:       8-K
Filed at:   2022-10-19T23:59:59+00:00
Accession:  0000924805-22-000059
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Freedom Holding to sell Russian subsidiaries to executive for $140M total consideration
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- Sells 100% of Freedom RU and FFIN Bank to Maxim Povalishin, Deputy General Director of Freedom RU.
- Total consideration ~$140M: assignment of ~RUB 6.6B ($107M) deferred obligation plus ~$33M cash.
- Transaction subject to Central Bank of Russia approval; closing expected in coming months.
- Preceding restructuring: company acquiring Freedom KZ from Freedom RU, closing before Russian sale.
- CEO cites geopolitical circumstances; sale enables focus on Kazakhstan, Europe, and US growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924805/000092480522000059/0000924805-22-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924805/000092480522000059/frhc-20221017.htm
  HTML page:      https://secwatch.observer/filing/0000924805-22-000059

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