ALMATY, KAZAKHSTAN / ACCESSWIRE / October 1, 2019 / Freedom Holding Corp. (FRHC) (the "Company"), a financial services company with operations in Eastern Europe and Central Asia, today announced that its common stock has been approved for listing on The Nasdaq Capital Market. Trading on the exchange is expected to commence at the opening of trading on October 15, 2019 under the symbol "FRHC."
Since July 2018, the Company's common stock has been listed on the OTCQX Best Market, which is operated by the OTC (Over-the-Counter) Markets Group. The Company was named to the OTCQX Best 50 list in January 2019.
"We are pleased to announce our Nasdaq exchange listing. I believe we are the first Kazakhstan-headquartered financial services firm to be listed on the exchange. This is an important accomplishment for our company as we continue executing our business plan. We expect this listing will facilitate our efforts to communicate our vision to a broader audience and further develop strategic synergies we see between investors and investment opportunities in our region and those in the U.S. and other international financial markets," stated the Company's Chairman and Chief Executive Officer, Timur Turlov.
Company profile
Freedom Holding Corp., formerly BMB Munai, Inc., owns FFIN Securities, Inc. (FFIN), which is its subsidiary. FFIN is assessing whether to resubmit the necessary applications to pursue licensure to conduct business as the United States securities broker-dealer. The Acquisition Agreement also provides for the Company to acquire securities brokerage and financial services businesses in Russia, Kazakhstan, and Cyprus to build an international brokerage and financial service firm. FFIN was formed for the purpose of primarily serving brokerage clients referred from foreign brokerage firms under common ownership as part of a strategy to provide foreign customers with access to the United States securities markets. As of March 31, 2016, the Company had not generated any revenues.
Since July 2018, the Company's common stock has been listed on the OTCQX Best Market, which is operated by the OTC (Over-the-Counter) Markets Group. The Company was named to the OTCQX Best 50 list in January 2019.
"We are pleased to announce our Nasdaq exchange listing. I believe we are the first Kazakhstan-headquartered financial services firm to be listed on the exchange. This is an important accomplishment for our company as we continue executing our business plan. We expect this listing will facilitate our efforts to communicate our vision to a broader audience and further develop strategic synergies we see between investors and investment opportunities in our region and those in the U.S. and other international financial markets," stated the Company's Chairman and Chief Executive Officer, Timur Turlov.
Company profile
Freedom Holding Corp., formerly BMB Munai, Inc., owns FFIN Securities, Inc. (FFIN), which is its subsidiary. FFIN is assessing whether to resubmit the necessary applications to pursue licensure to conduct business as the United States securities broker-dealer. The Acquisition Agreement also provides for the Company to acquire securities brokerage and financial services businesses in Russia, Kazakhstan, and Cyprus to build an international brokerage and financial service firm. FFIN was formed for the purpose of primarily serving brokerage clients referred from foreign brokerage firms under common ownership as part of a strategy to provide foreign customers with access to the United States securities markets. As of March 31, 2016, the Company had not generated any revenues.