secwatch.observer — SEC 8-K summary
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Issuer:     Freedom Holding Corp. (FRHC)
CIK:        0000924805
Form:       8-K
Filed at:   2023-03-03T23:59:59+00:00
Accession:  0000924805-23-000031
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924805/000092480523000031/0000924805-23-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924805/000092480523000031/frhc-20230227.htm
  HTML page:      https://secwatch.observer/filing/0000924805-23-000031

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer