Freedom Holding Corp. enters into an agreement to acquire travel platforms

The acquisition of Aviata and Chocotravel will strengthen online services

ALMATY, Kazakhstan and NEW YORK, April 24, 2023—(BUSINESS WIRE)–Freedom Holding Corp . (Nasdaq: FRHC), a diversified multinational financial services firm, has entered into an agreement to acquire the services platforms Aviata and Chocotravel from Chocofamily Holding LLP, the company announced today. The acquisition, which is subject to certain conditions, is expected to close before the end of the year.

Aviata/Chocotravel is one of the largest online travel agencies in Kazakhstan. The purchase price is $32.3 million.

“We are building a full ecosystem of digital services for our customers, so the acquisition of the Aviata and Chocotravel digital service platforms is a logical contribution to the development of our group,” said Timur Turlov, CEO of Freedom. “This integration will allow us to interact with more than one million air travelers in Kazakhstan, who are an economically active category of the population. Through effective communications with current customers on these service platforms, Freedom will be able to achieve significant synergies in attracting new customers to our banking platform and integrate Aviata and Chocotravel services into our group’s payment system and insurance companies.”

Freedom noted that there is a positive trend in air and rail travel in Kazakhstan, for both domestic and international destinations. In 2022, airlines in Kazakhstan carried 11 million passengers, a record number for the country, which is 17% more than in 2021.

“Last year, we reviewed the strategy of Choco Holding Company and decided to focus only on delivery projects and business advertising technology projects,” said Nikolay Mazentsev, CEO of Choco. “Since then, we have sold (online lens shop) and (payment system). Today we are pleased to announce the sale of the combined company Aviata and Chocotravel. It’s a win-win deal. For us, this is an opportunity to buy 100% of Choco’s private and public debt and provide funds for the further development of strategically important projects for Choco. For Freedom, it’s strengthening their ecosystem with a strong product and an active user base totaling more than 1 million people.”

About Freedom Holding Corp.
Freedom Holding Corp., a Nevada corporation, is a financial services holding company engaged in retail financial securities brokerage, investment research, investment advisory, securities trading, investment banking and insurance services, mortgages, insurance and consumer banking through its subsidiaries under the name Freedom Finance in Europe and Central Asia. Through its subsidiaries, Freedom Holding Corp. has more than 2,900 employees and is a professional participant in the Kazakhstan Stock Exchange, the Astana International Stock Exchange, the Ukrainian Stock Exchange, the Tashkent Republican Stock Exchange and the Uzbekistan Republican Currency Exchange and is a member of the New York Stock Exchange and the Nasdaq Stock Exchange.

Freedom Holding Corp. is headquartered in Almaty, Kazakhstan, and has a presence through its subsidiaries in 14 countries, including Cyprus, the United States, Uzbekistan, the United Kingdom and Germany.

The common stock of Freedom Holding Corp. are registered with the US Securities and Exchange Commission and are traded in the United States on the Nasdaq Capital Market, operated by Nasdaq, Inc.

To learn more about Freedom Holding Corp., visit

About Choco Holding Company
Choco Holding Company is one of the largest IT companies in Kazakhstan, which started its operations in 2011 by launching the first coupon service in Kazakhstan, In 2012, the contact lens delivery platform and online hypermarket were launched. In 2013, the holding launched another project – the country’s first food delivery service from restaurants, In 2014, the holding’s portfolio included a project for the online sale of plane and railway tickets In 2017, the portfolio of the holding was increased by the doctor search service project. In 2018, the Rakhmet service project was launched, which changed its products and name in 2021, and the application became known as Choco. In 2020, the holding company launched the 15-minute ultra-fast food delivery project – Choco Nearby, pioneering ultra-fast food delivery in Kazakhstan. In 2021, the Choco Delivery (courier express urban delivery) project was launched, which operates in all major cities of Kazakhstan. In 2022, Choco merged all its services into one Choco super app. Choco’s portfolio currently includes,,, Choco Nearby, Choco Delivery, Digital Restaurants, Choco superapp. is a Kazakhstani online air and rail ticketing platform founded in 2013. In 2018, the company merged with In 2019, the Chocofamily holding increased its interest in the combined company “Aviata/Chocotravel” to 100%.

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Deborah Costron (USA) – [email protected]
Phone: +1 (201) 403-8185

Ramina Fakhrutdinova (KZ) – [email protected]
Tel.: +7 (727) 311 10 64, ext. 640
Mobile: +7 777 377 88 68

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