Freedom Holding Corp. shares started trading on the NASDAQ Capital Market on October 15, 2019. Freedom Holding became the first company from the CIS that got listed in one of the largest US-based exchanges. The starting price per FRHC share was $14.42.
An official ceremony in NASDAQ, NYC, dedicated to the first trading day of Freedom Holding Corp. stock
This is a great achievement for anyone working under Freedom Finance brand.
• The largest companies are traded on the NASDAQ, which includes Apple, Microsoft, Facebook, and Starbucks. Overall, there are over 3,000 stocks trading there with a total market cap of $11T. Freedom Holding Corp. is now one of them.
• NASDAQ listing means the business is transparent and sustainable. Before any company can get listed, it is audited internationally. Apart from that, all NASDAQ-listed companies are strictly regulated by the Securities and Exchange Commission (SEC).
• NASDAQ-listed stocks can be available elsewhere. In case of FRHC, the shares may also be traded in the New York Stock Exchange (NYSE), or in any of the dozens of online exchanges across the US. Thus, Freedom Finance shares will be available on nearly any broker's platform throughout the world.
• FRHC stock is now being traded side by side with Google, Microsoft, Apple, and Facebook. As for the Russian companies, NASDAQ houses Yandex, HeadHunter, and Qiwi.
Freedom Holding Corp. Team during the First Trading Day on the NASDAQ Ceremony
Timur Turlov, Freedom Holding Corp. CEO, commented:
"We worked to achieve this goal for a few years, and had to undergo quite a few verification processes and audits. This, however, was well worth it. Now that we are NASDAQ-listed, we can access a larger client base, and new opportunities are open for us. The US market is the main one for capital, and its role has become even more important lately. We are delighted we've finally become a part of it. Meanwhile, for our clients in all our countries of presence, NASDAQ listing is a guarantee of our sustainability.
Waiting for the Trading to Start
The CEO also highlighted that the Russian investment market, which one of the Freedom Finance branches directly relates to, is soaring. "Just over the last 18 months, over 1M accounts were opened in the Moscow Stock Exchange", Turlov said. This is an unprecedented boost in popularity, as only around 3M accounts were opened over all previous time."
Andy Hall, Vice President at the NASDAQ
With overall market cap of the NASDAQ amounting to over $12T, listing on this exchange provides the global and institutional investors with an opportunity to own Freedom Holding shares.
"Currently, our top priority is boosting the liquidity and the trading volume. We were able to raise around $40M in shares in the US, which fueled our business greatly. We managed to fortify our position in the market and get all required resources. The holding's net profit over the last quarter amounted to $8M. The rising liquidity will help the company stay on the forefront of the global exchange", Timur Turlov concluded.
Freedom Holding Corp. Team Members from various countries of presence
Freedom Holding Corp. is an international financial holding with offices in seven countries, including Germany, Cyprus, and Russia. The current market cap is around $800M, with the equity over $125M, total assets at $429M, and the client assets at $1.30B. The number of clients exceeds 121,000. The holding has 78 offices in various countries, 30 of which are located in Russia.
Timur Turlov Being Handed In the Listing Certificate