Freedom Holding Corp. (FRHC, +30% this year) is going to acquire MKM Partners, a brokerage firm from the U.S. This is the second U.S. company Freedom is going to buy in the country. Under the terms of the agreement, Freedom will acquire all the member interest of MKM Partners for cash and Freedom common stock. Completion of the transaction is subject to certain conditions, including approval of FINRA.
As Timur Turlov, Freedom Holding Corp. CEO noted MKM Partners is a well-respected institutional equity trading, sales, and research firm. With one of the largest distribution forces in the U.S. and a team of distinguished strategists and research analysts, MKM will further enhance Freedom’s international team and extend its activities focused on U.S. growth, he said.
According to Steven Messina, MKM Partners Co-CEO there is exciting symmetry between MKM Partners business lines and Freedom.
«We expect integration of the companies to be accomplished smoothly given the continuity of management and personnel at MKM Partners. Freedom is a dynamic success story and will bring exciting opportunities for expansion to the MKM Partners team,» he said.
MKM Partners is a Stamford-based firm focused on Trading, Research, Sales, Derivatives, Event Driven/Risk Arbitrage, Proprietary Studies, Capital Markets, Corporate Access, High Yield/Credit, and CSA. It is one of the largest trading firms in the U.S. and are ranked in the top tier in equity research.
At the end of 2020, Freedom Holding Corp. announced the acquisition of Prime Executions Inc., a broker-dealer with head-quarter in Delaware. Back then Timur Turlov noted that the deal allows the holding to be on the American stock exchanges while providing its clients with effective and well-timed support in this country.
Freedom Holding Corp. is a provider of retail financial brokerage, investment consulting, securities trading, investment banking and underwriting services via its Freedom Finance subsidiaries. The company is a professional participant of the Kazakhstan Stock Exchange (KASE), Astana International Exchange (AIX), Moscow Exchange (MOEX), Saint Petersburg Stock Exchange (SPB), Republican Stock Exchange Toshkent and Ukrainian Exchange. The company has branch offices in Kazakhstan, Russia, Kyrgyzstan, Uzbekistan, Azerbaijan, Germany, Cyprus, the U.K., Ukraine, and the U.S. The holding’s common shares have been traded on NASDAQ, KASE, SPB and Ukrainian Exchange.