Freedom Holding Corp. Form SCHEDULE 13D/A — Nov 9, 2026
Freedom Holding CEO and Chairman Timur Turlov filed a Schedule 13D/A disclosing that on November 5, 2026 he and his entity Turlov Private Holding Ltd. agreed to Heads of Terms to acquire at least 51% of Kazakhstan's Ak Zhayik Capital LLP for $300 million, with Bakhtiyar Ospanov as seller. Settlement is structured around FRHC common shares: Turlov will transfer shares from his personal 64.91% holding (41,405,112 shares) to the Seller in two tranches (a $270M tranche in 2026 and a $30M tranche in 2027), with share counts set at the 20-day Nasdaq VWAP multiplied by 1.15, and the Seller intends to resell those shares on the market.
Key figures
- Shares Owned
- 41405112
- Deal Value Usd
- 300000000
- Percent Of Class
- 64.91%
- Vwap Window Days
- 20
- First Tranche Usd
- 270000000
- Second Tranche Usd
- 30000000
- Breakup Fee Percent
- 5
- Long Stop Closing Date
- 2027-04-10
- Long Stop Payment Date
- 2027-03-31
- First Tranche Deadline
- 2026-11-23
- Second Tranche Deadline
- 2027-03-05
- Shares Outstanding Basis
- 63787666
- Default Interest Rate Percent
- 5
- Share Number Formula Multiplier
- 1.15
AI analysis
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