Photo by Forbes Kazakhstan. Timur Turlov - founder and majority shareholder of Freedom Holding Corp
The new entity will be registered as a closed joint-stock company under the name Freedom Bank KG. The authorized capital will amount to 1 billion soms, which will be formed from one million ordinary shares with a nominal value of 1 thousand soms each. Full control over the subsidiary's share capital will belong to the Kazakh bank.
Currently, “Freedom Bank Kazakhstan” is already doing business in Kyrgyzstan: the holding's subsidiaries provide brokerage services (Freedom Broker), as well as payment operations (Freedom Pay Kyrgyzstan) and ticket sales (Ticketon Events KG).
Timur Turlov, the founder and main shareholder of Freedom Holding Corp, has significantly expanded the geography of the company's business over the past two years, including countries such as Turkey, Georgia, Tajikistan, and Estonia.
Turlov controls about 70% of the shares of Freedom Holding Corp and ranks second on the list of the 75 wealthiest people in Kazakhstan.
