Press Release
Freedom Holding Corp. (FRHC) is celebrating the fifth anniversary of its IPO on the Nasdaq Capital Market, one of the world’s leading stock exchanges. Since its debut on October 15, 2019, the company has seen tremendous financial and operational growth, establishing itself as a trusted and globally recognized brand.
Over the past five years, Freedom Holding Corp.'s market capitalization has surged nearly eightfold, reaching $6 billion. On October 9, 2024, the company’s stock price hit $99.77, a significant increase from its opening price of $14.42 on its first trading day.
Freedom Holding Corp.’s listing on Nasdaq has paved the way for substantial business expansion. Today, the company serves over 530,000 customers across the US, Europe, and Central Asia, offering a broad range of high-quality financial services and investment opportunities. Its innovative trading platform, Freedom24, is highly regarded across Europe, giving investors seamless access to over one million financial instruments on the world’s major stock exchanges. In Kazakhstan, where the company is headquartered, Freedom Holding Corp. has developed a comprehensive digital financial ecosystem, providing convenient solutions in banking, insurance, investments, and telecommunications.
“Being a public company listed on Nasdaq is both a significant challenge and a great honour. It demands complete transparency, rigorous information management, and a next level of corporate governance from our entire team. To meet best global practices, we collaborate with top professionals in the field. It is a challenge, but it pays off and it is worth it," said Timur Turlov, CEO of Freedom Holding Corp.
To commemorate this milestone, Turlov and other company representatives had the honour of participating in Nasdaq's official closing bell ceremony on June 14, 2024. The event, a tradition spanning more than 50 years, was warmly welcomed by Nasdaq’s Managing Director, Robert Phillips, who praised Freedom Holding Corp. as a "global full-service financial solutions provider" with a mission to "democratise access to capital markets in Europe and Central Asia."
The bell-ringing ceremony coincided with the release of the company’s fiscal year 2024 report, showcasing impressive growth with revenues soaring 105.5% year-on-year to $1.64 billion and net profit rising 82.4% to $375 million. In the first quarter of fiscal year 2025, ending June 30, 2024, Freedom Holding Corp. reported a 43% increase in revenues, reaching $451 million.
The Nasdaq listing also ensures the transparency and reliability of Freedom Holding Corp.'s operations. Like other listed issuers, the company is overseen by the US Securities and Exchange Commission (SEC) and adheres to strict regulatory standards. Freedom Holding Corp.'s rapid growth has been noted by international rating agency S&P Global Ratings, which in June revised to ‘positive’ its outlook on several of the company's subsidiaries and upgraded the outlook on its long-term rating to 'stable'.
Freedom Holding Corp's stock is included in the Nasdaq's MSCI U.S. Small Cap 1750 and MSCI U.S. Investable Market 2500 indices. The holding company's shares are also traded on Kazakhstan's KASE.
