Freedom Holding Corp. Founder Timur Turlov Announces Candidacy for FIDE Deputy President
Rhea-AI Summary
Freedom Holding (Nasdaq: FRHC) founder and majority shareholder Timur Turlov, also President of the Kazakhstan Chess Federation, announced his candidacy for FIDE Deputy President on a joint ticket with the current FIDE President.
Freedom recently acquired ChessBase and plans about €5 million investment, agreed to acquire Turkish Bank A.S., and applied for a French banking license with planned €500 million investment.
Positive
- Acquisition of ChessBase with around €5 million planned investment in development
- Agreements in 2026 to acquire Turkish Bank A.S.
- Plan to invest €500 million to build a digital bank and infrastructure in France
- Chess integrated into the Freedom SuperApp, including broadcasts and planned educational content
Negative
- None.
News Market Reaction – FRHC
In the Jun 29 session, FRHC gained 0.66%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 25 | Ratings upgrade | Positive | -4.7% | S&P upgraded key subsidiaries alongside disclosure of record revenue and income. |
| Jun 12 | Equity offering | Negative | +0.5% | Launched up to US$300M common stock offering under Regulation S outside U.S. |
| Jun 01 | Earnings report | Positive | +4.9% | Reported FY 2026 revenue and net income growth with higher EPS and expansion. |
| Apr 16 | Strategic acquisition | Positive | +1.0% | Announced acquisition of ChessBase with planned €5M investment and ecosystem integration. |
| Apr 09 | Offering consideration | Negative | -3.9% | Company said it was considering a common stock offering in Kazakhstan under Regulation S. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
FRHC tends to align with fundamentals and strategic deals, but reactions to ratings changes and equity offerings have been more mixed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ALMATY, KAZAKHSTAN AND NEW YORK, NY / ACCESS Newswire / June 29, 2026 / Timur Turlov, President of the Kazakhstan Chess Federation and founder and majority shareholder of Freedom Holding Corp., has announced his candidacy for the position of Deputy President of the International Chess Federation (FIDE).
According to Turlov, his decision to run reflects the work the Kazakhstan Chess Federation has undertaken in recent years to develop, digitize and popularize chess across the country.
"My goal is to bring more stability, balance and mutual understanding to FIDE. Freedom Holding Corp., as one of Central Asia's leading fintech groups, can help the federation become more digital and technology-driven," said Timur Turlov.
He added that his candidacy also reflects Kazakhstan's growing role in the international chess community.
"In this sense, I represent not only myself, but also Kazakhstan - a country that is increasingly seen internationally as a reliable partner, capable of building calm and balanced dialogue. I believe it is important to bring these qualities - technological expertise, resilience and openness to cooperation - into international institutions," he said.
The FIDE leadership elections will take place on September 26-27, 2026, in Uzbekistan during the General Assembly of the International Chess Federation. Under FIDE rules, candidates for President and Deputy President run on a joint ticket. Turlov will stand alongside the current FIDE President in the upcoming election
Since becoming President of the Kazakhstan Chess Federation in 2023, Turlov has overseen a period of rapid growth for chess in Kazakhstan. In 2025, Kazakhstani players won 162 medals at international competitions, including 64 gold medals. More than 1,500 schools and over 60,000 students now participate in the country's school chess program.
In April 2026, Freedom Holding Corp. acquired ChessBase, one of the world's leading chess software and analytics platforms, and plans to invest around €5 million in its further development. Chess is also becoming part of Freedom's digital ecosystem through the Freedom SuperApp, which already broadcasts international tournaments and will expand to include educational content, puzzles, training games and online play.
Timur Turlov is a Kazakhstani entrepreneur, founder and majority shareholder of Freedom Holding Corp., a Nasdaq-listed international fintech company headquartered in Almaty and New York that operates in more than 20 countries. In 2026, the company announced agreements to acquire Turkish Bank A.S., and applied for a banking license in France, where it plans to invest €500 million in building a digital bank and local infrastructure.
About Freedom Holding Corp.
Freedom Holding Corp. provides financial services in 22 countries, including Kazakhstan, the United States, Cyprus, Poland, Spain, Uzbekistan, and Armenia. The Company's principal executive office is located in New York City. In Kazakhstan, Freedom is actively developing its financial and digital ecosystem, which includes Freedom Bank, Freedom Broker, the insurance companies Freedom Life and Freedom insurance, as well as a lifestyle segment that features Arbuz.kz, Freedom Ticketon, and Aviata. Freedom Holding Corp. shares are traded on the U.S. technology exchange NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX) under the ticker symbol FRHC. Freedom Holding Corp. is regulated by the U.S. Securities and Exchange Commission (SEC) and the common stock is included in Russell 3000® Index.
Contact Information
Natalia Kharlashina
Head of Public Relations
prglobal@ffin.kz
+77013641454
SOURCE: Freedom Holding Corp.
View the original press release on ACCESS Newswire