---
schema_version: "secwatch.filing_event.v1"
accession: "0000924805-23-000031"
form_type: "8-K"
ticker: "FRHC"
cik: "0000924805"
company_name: "Freedom Holding Corp."
filed_at: "2023-03-03T23:59:59+00:00"
generated_at: "2026-06-18T13:58:50.780671+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Freedom Holding completes sale of Russian subsidiaries for $140M; exits Russia

## Summary
- Sale of 100% of Russian subsidiaries (IC Freedom Finance LLC and Bank Freedom Finance LLC) to Maxim Povalishin for ~$140M.
- Consideration: cash of $51.5M and assignment of liability of ~$88.5M, based on closing date exchange rates.
- Central Bank of Russia approved on Feb 10, 2023; transaction closed Feb 27, 2023.
- Acquired companies rebranded as 'Tsifra'; Freedom Holding has completely exited Russia.
- Press release amended to correct amounts from signing date to closing date exchange rates.

## SEC filing metadata
- accession: 0000924805-23-000031
- form_type: 8-K
- ticker: FRHC
- cik: 0000924805
- company_name: Freedom Holding Corp.
- filed_at: 2023-03-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/924805/000092480523000031/0000924805-23-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/924805/000092480523000031/frhc-20230227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000924805-23-000031
- JSON: https://secwatch.observer/filing/0000924805-23-000031.json
- Plain text: https://secwatch.observer/filing/0000924805-23-000031.txt

## Key facts
- M&A Transactions
  Freedom Holding Corp. completed a disposition involving Maxim Povalishin for US$140 million (closed 2023-02-27).
  - Action: disposition
  - Counterparty: Maxim Povalishin
  - Consideration: US$140 million
  - Closing: 2023-02-27
  source text: Maxim Povalishin, the purchaser, was the Deputy General Director and a member of the Board of Directors of Freedom RU. The purchase price for the Russian Subsidiaries was US$140 million, comprised of the assignment to the purchaser of a liability of the Company to Freedom RU in the amount of approximately US$88.5 million and cash in an amount of US$51.5 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/924805/000092480523000031/0000924805-23-000031-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.