FRHC News & Events

Freedom Holding announced the acquisition of ChessBase. The company plans to strengthen the platform's market position through the broader deployment of artificial intelligence and its integration with the group's ecosystem. The expected investment in the project is approximately EUR 5M. "ChessBase is an exceptionally strong brand with a rich history and, arguably, one of the most important projects for the global chess community. Together with the team that created the platform and continues to run it, we believe we can make substantial progress in modernizing the service, enriching its functionality through artificial intelligence, and integrating it into our digital ecosystem through SuperApp," said Timur Turlov, CEO. "I believe this partnership will strengthen ChessBase's position not only among professional chess players, but will also open up new opportunities by giving our clients direct access, with more than 11 million clients across the group in more than 20 countries." "I believe this partnership will strengthen ChessBase's position not only among professional chess players, but will also open up new opportunities by giving our clients direct access, with more than 11 million clients across the group in more than 20 countries." Turlov added that the investment will be directed toward modernizing the platform and further developing and expanding its technological architecture. At the same time, ChessBase's headquarters will remain in Hamburg, and the core team will remain in place. No job cuts are planned. On the contrary, the company expects to invest significantly in the business and recruit additional staff as the platform develops further.

Freedom Holding announced that it is considering an offering of its common stock in Kazakhstan. The offering, if the company determines to proceed with such an offering, would be conducted outside the United States in reliance on Regulation S under the Securities Act of 1933.

Freedom Holding has announced an agreement to acquire 99.32% of the shares in Turkish Bank A.S. The sellers are Ozyol Holding and the National Bank of Kuwait. The transaction is subject to approval by the relevant regulatory authorities in Turkey. The parties had previously announced their intention to conclude the deal, but the key parameters have now been disclosed, including the size of the stake being acquired. The purchase of the bank provides Freedom Holding Corp. with direct access to Turkey's banking market, which serves a population of around 90 million people, and represents an important stage in the development of the group's ecosystem in the Turkish market. The transaction includes only Turkish Bank A.S., which has been operating in Turkey since 1982. The TurkishBank Group's divisions in the United Kingdom and Cyprus are not part of the deal. Following the completion of the transaction, Freedom plans to invest in the bank's technological modernization, accelerate its digital transformation, and expand its product offering with a focus on retail customers as well as the small and medium-sized business segment.

Freedom Holding (FRHC) has signed an agreement with the Ministry of Artificial Intelligence and Digital Development of the Republic of Kazakhstan to develop a $2B Sovereign AI Hub in Kazakhstan. The hub will be operated by Freedom Holding Corp. and powered by sovereign exascale Nvidia (NVDA) AI infrastructure, as part of a major strategic initiative to accelerate Kazakhstan's and Central Asia's AI leadership. The Ministry will support favorable conditions for hosting and operating large-scale AI systems and lead related talent development programs. The anticipated hub is planned to be located at a site in Kazakhstan with 100 MW of available power, with Freedom Holding Corp. serving as the principal financing and implementation partner.