The Turkish division of Freedom Holding Corp. — Freedom Finansal Hizmetler — has received approval from the Turkish Capital Markets Council (CMB) to establish a new brokerage company called Freedom Yatırım Menkul Değerler AŞ. This is stated in the company's message.
Freedom Holding Corp. It plans initial investments in brokerage activities at the level of $10-20 million annually, with possible adjustments depending on the success of the marketing strategy. In the case of obtaining a banking license, investments can range from $ 100 million to $200 million at the initial stage.
Turkey is a priority destination for the holding along with Central Asia, the report says.
Freedom Holding Corp. It provides financial services in 22 countries, including Kazakhstan, the USA, Cyprus, Poland, Spain, Uzbekistan, and Armenia. The main executive office is located in New York. In Kazakhstan, Freedom is developing its ecosystem, which is represented by Freedom Bank, Freedom Broker, Freedom Life and Freedom Insurance insurance companies, as well as the life-style segment (Arbuz.kz, Freedom Ticketon, Aviata).
Shares of Freedom Holding Corp. They are traded on the American technology exchange NASDAQ, Kazakhstan Stock Exchange (KASE) and AIX under the ticker FRHC. The holding's capitalization is $7 billion. Activities of Freedom Holding Corp. It is regulated by the U.S. Securities and Exchange Commission (SEC).
