Shares of Freedom Holding have gained about 600% since listing five years ago on the Nasdaq. In 2019, the company became the first broker from the CIS on this U.S. exchange. Indeed, the Nasdaq IPO gave the business a major boost, says CEO Timur Turlov.
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Freedom Holding stock has grown 590% since its first trading day on the Nasdaq, five years ago, when it debuted at $14.42 per share. On Tuesday, October 15, shares closed at $99.56 per share, up 0.36% for the day. The company’s market capitalization now stands at just over $6 billion.
The day before, the stock hit $101.01 per share, its highest mark in over a year. For the year to date, Freedom Holding has gained 23.5%.
Context
When Freedom Holding listed on the Nasdaq, it was a relatively small investment group, primarily operating as a brokerage while gaining momentum in Kazakhstan’s insurance market. Since then, just about everything has changed, CEO Timur Turlov said on his Instagram page.
“The initial stock price was just over $14 [per share], and the market capitalization at $800 million… To become part of the global stock market, we had worked really hard — we had improved transparency, fully disclosed our financials, and gone through numerous audit checks and procedures… Going public on the Nasdaq was a bold move, but it gave our business a tremendous boost. Five years later, our market capitalization exceeds $6 billion, the share price is close to $100 [per share], and our team has grown to 7,000 men and women,” Turlov wrote.
Today, Freedom Holding operates in over 20 countries, serving as a full-fledged underwriter for U.S. companies, and is building the most complex digital ecosystem in the CIS, the CEO noted. He expects Freedom Holding stock to advance even faster than before.
“It took the share price five years to grow from $14 to $100. It seems that the journey from $100 to $120… $150… $200… will be significantly shorter, because the positive momentum is much stronger, and the reasons for optimism are far better than they were at the start… We are about to make a big leap forward, turning this complexity into our key advantage. Investors will see it, the market will respond, and our value will grow,” Turlov stated.
Today, Freedom Holding serves 530,000 clients across the U.S., Europe, and Central Asia. Freedom’s trading platform offers investors access to more than a million financial instruments on the world’s largest stock exchanges.
For the fiscal-2025 first quarter (ended June 30), Freedom Holding posted $451 million in revenue, 42.5% higher year over year, and $34 million in net profit ($0.57 per diluted share). As of the end of the quarter, the company had $8.5 billion in total assets.
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