Welcome to our dedicated page for Freedom Holding news (Ticker: FRHC), a resource for investors and traders seeking the latest updates and insights on Freedom Holding stock.
Freedom Holding Corp. (symbol: FRHC) is a prominent player in the securities industry, offering a comprehensive range of financial services through its subsidiaries. These services include retail securities brokerage, research, investment counseling, securities trading, market making, corporate investment banking, and underwriting services. The company operates across several key international markets including Central Asia, Europe, the United States, and the Middle East/Caucasus, with Europe contributing the majority of its revenue.
Freedom Holding Corp. provides investment brokerage services for a diverse array of financial instruments such as exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, government bonds, and mutual funds. Additionally, the company offers margin lending services, which are collateralized by securities and cash in the customer's account.
To support its clients' investment decisions, Freedom Holding Corp. offers various investment education and training courses alongside comprehensive investment research services. The company also delivers capital raising solutions for corporate clients through initial public offerings (IPOs) and follow-on offerings. Its debt capital markets solutions are tailored to structure and distribute private and public debt for a variety of purposes, including buyouts, acquisitions, growth capital financings, and recapitalizations.
Freedom Holding Corp. is an active participant on several major exchanges, including the Kazakhstan Stock Exchange (KASE), Moscow Exchange (MOEX), Saint-Petersburg Exchange (SPB), the Ukrainian Exchange, the Uzbek Republican Currency Exchange (UZCE), and the Republican Stock Exchange of Tashkent (UZSE). This extensive network reflects the company’s strategic focus on providing robust financial services and expanding its market presence across Eurasia.
Freedom Holding Corp. (NASDAQ:FRHC) announced a downgrade in credit ratings by S&P Global Ratings for its subsidiaries due to the adverse effects of the Russia-Ukraine conflict. The long-term issuer credit ratings for Freedom Finance JSC and other subsidiaries were lowered to "B-" and "CCC-" for Investment Company Freedom Finance. S&P's action reflects anticipated weaker business prospects and potential currency translation losses. Despite these challenges, CEO Timur Turlov indicated continued operations in Kazakhstan and other regions, maintaining a healthy liquidity position.
Freedom Holding Corp. (NASDAQ:FRHC) announced its subsidiary, JSC Freedom Finance, received regulatory approval to become an insurance holding company from Kazakhstan's financial market regulator. This approval allows for the acquisition of Freedom Finance Insurance JSC and Freedom Finance Life JSC, expected to complete before the fiscal year ends on March 31, 2022. The acquisitions aim to expand consumer financial services in Kazakhstan through popular insurance products, enhancing synergies with existing banking and brokerage operations.
Freedom Holding Corp. (NASDAQ:FRHC) announced that its US subsidiary, Prime Executions, Inc., has received FINRA approval for expansion into capital markets and investment banking activities. This marks a significant milestone for Prime Executions, allowing it to engage in underwriting and mergers and acquisitions advisory. Company executives expressed optimism about the growth potential in the US market, highlighting the subsidiary's established presence and expertise as a NYSE brokerage firm.
Freedom Holding Corp. (NASDAQ:FRHC) announced that its subsidiary, JSC Freedom Finance, has been named the top investment bond bookrunner in Kazakhstan for 2021 by Cbonds. The firm raised KZT516 billion, accounting for 35.76% of total funds, and led in both the number of issuers (15) and bond issues (29). Director Renat Syzdykov emphasized the significance of this achievement for their investment banking division, highlighting a market distribution of 42.85% for local bonds, totaling over KZT473 billion. These accomplishments reflect the firm's commitment to economic growth in Kazakhstan.
Freedom Holding Corp. (FRHC) has been honored with two prestigious awards for 2021: Best Research House and Most Innovative Securities Brokerage in Kazakhstan by International Finance. This recognition underscores the company's commitment to excellence in market research analytics, led by a skilled team. Additionally, its subsidiary Freedom Finance JSC received a 2021 Champions League bronze award for its achievements in the fixed income market, reflecting significant growth in their services.
Freedom Holding Corp. (NASDAQ:FRHC) plans to expand its services in Kazakhstan through acquisitions of multiple companies, pending regulatory approvals. The CEO, Timur Turlov, stated these acquisitions aim to enhance their online financial services platform. They will acquire Freedom Finance Life and Freedom Finance Insurance for approximately $26.07 million. Both companies possess strong assets and customer bases, with Freedom Finance Life rated 'B' by S&P. Additionally, the company will acquire PayBox.money and Ticketon.kz, enhancing its digital and payment capabilities in the region.
Freedom Holding Corp. (NASDAQ:FRHC) announced its agreement to acquire MKM Partners, LLC, a prominent institutional equity trading and research firm, for cash and common stock. The acquisition aims to enhance Freedom's services and extend its activities in the U.S. market. The transaction is subject to FINRA approval, with completion anticipated soon. The integration is expected to be smooth, leveraging MKM's existing management team.
Freedom Holding Corp. (NASDAQ:FRHC) announced on June 25, 2021, that S&P Global Ratings increased its long-term issuer credit ratings for its subsidiaries, JSC Freedom Finance and LLC Investment Company Freedom Finance, from 'B-' to 'B', with stable outlooks. Additionally, the national scale rating for JSC Freedom Finance was raised to 'kzBB+'. The ratings affirm the company's successful expansion and profitability in a growing economic environment. CEO Timur Turlov welcomed this validation of their regional economic stability and growth.
Freedom Holding Corp. (NASDAQ:FRHC) announced coverage initiation by Sidoti & Company, a leading Wall Street research firm. This is part of Sidoti's Company Sponsored Research program, aimed at enhancing independent analysis for investors. Company President Askar Tashtitov emphasized the importance of Sidoti’s reputation for quality research. The detailed report was released on May 27, 2021, and is accessible via the Company’s Investor Relations page. The Company does not endorse the report's conclusions, highlighting the need for investors to review its SEC filings.
Freedom Holding Corp. (NASDAQ:FRHC) has successfully acquired Prime Executions, Inc., marking its initial entry into the U.S. markets. Prime, a registered broker-dealer with the SEC and member of the NYSE, specializes in institutional trading. The acquisition is expected to create valuable synergies, with combined trading volumes exceeding 1.06 billion shares in December 2020. This strategic move aims to enhance the company's service offerings in both Eurasia and the U.S.
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