Freedom Holding raises $292.5 mln in share placement
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Freedom Holding Corp. raised nearly $300 million through a share placement, the company announced on July 10. The offering involved the sale of 1.5 million shares at $195 each.
The Placement
Freedom Holding Corp. raised $292.5 million by selling 1.5 million shares at $195 per share. The offering was led by Goldman Sachs & Co. LLC and UBS Securities LLC as joint book-running managers. The company plans to use the proceeds for general corporate purposes, including potential acquisitions and working capital.
Market Context
The placement comes as Freedom Holding's stock trades on the Nasdaq under the ticker FRHC. The company, headquartered in Almaty, Kazakhstan, has expanded its financial services across Central Asia and Europe. The offering price represented a discount of about 4% to the closing price on July 9.
What's Next
The company expects to close the offering by July 14. It remains unclear whether further share sales will follow amid market volatility.
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Freedom Holding raises $292.5 mln in share placement
