BlackRock Expands Stake in Freedom Holding Corp: Key Developments
BlackRock Increases Its Shareholding In Freedom Holding Corp.
In a significant development for Freedom Holding Corp. (NASDAQ: FRHC), the renowned investment giant, BlackRock, Inc., has raised its stake in the financial services company to 0.85%, reflecting a substantial investment of approximately $89 million. This move positions BlackRock as the second-largest shareholder of Freedom Holding, following founder and CEO Timur Turlov.
Details of BlackRock's Acquisition
Recent data indicates that during the latest reporting cycle, BlackRock acquired an additional 443,965 shares. This acquisition has bolstered its total holdings to an impressive 520,565 shares. In the landscape of institutional investment, such additions highlight confidence in Freedom Holding's growth trajectory and market standing.
Other Notable Institutional Investors
Besides BlackRock, Freedom Holding attracts interest from various other prominent institutional investors, including State Street Corp., Grace Partners of DuPage L.P., and Geode Capital Management. This trend points toward a growing recognition of the company’s strategic importance within the global financial landscape.
Leadership's Perspective on Institutional Interest
Timur Turlov, the visionary founder and CEO of Freedom Holding Corp., has expressed his enthusiasm regarding the increasing interest from global institutional investors. He stated, "We welcome the growing interest from global institutional investors. The presence of partners such as BlackRock confirms the resilience of our business and the strategic potential of Freedom Holding in international markets." His remarks reflect the company's commitment to expanding its influence in various global markets.
BlackRock's Overview
Founded in 1988, BlackRock is headquartered in New York and has established itself as the world's leading investment management firm. As of the present year, the company manages assets surpassing $12.5 trillion. BlackRock is particularly well-known for its iShares ETFs and the innovative Aladdin technology platform, which enhances investment management processes.
About Freedom Holding Corp.
Freedom Holding Corp. operates across 22 countries, asserting its presence in locations that include Kazakhstan, the United States, Cyprus, Poland, Spain, Uzbekistan, and Armenia. The company has its principal executive office situated in New York City. In Kazakhstan, Freedom Holding is actively building a robust financial and digital ecosystem that encompasses various services, including Freedom Bank, Freedom Broker, insurance companies Freedom Life and Freedom Insurance, alongside a lifestyle segment featuring Arbuz.kz, Freedom Ticketon, and Aviata. The shares of Freedom Holding Corp. are publicly traded on the U.S. technology exchange NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX) under the ticker symbol FRHC. Furthermore, the company operates under the regulatory oversight of the U.S. Securities and Exchange Commission (SEC).
Contact Information
For further information, media inquiries can be directed to:
Public Relations
Natalia Kharlashina
Freedom Holding Corp.
+7 701 364 1454
Frequently Asked Questions
What recent development involved BlackRock and Freedom Holding?
BlackRock increased its stake in Freedom Holding to 0.85%, investing about $89 million.
Who is the largest shareholder of Freedom Holding Corp.?
Timur Turlov, the founder and CEO, remains the largest shareholder, while BlackRock is the second-largest.
What is the significance of BlackRock's investment in Freedom Holding?
This investment reflects confidence in Freedom Holding's market potential and growth strategy.
Which other investors are involved with Freedom Holding?
Other notable institutional investors include State Street Corp., Grace Partners of DuPage L.P., and Geode Capital Management.
Where can Freedom Holding shares be traded?
Freedom Holding Corp. shares are traded on NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX).
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