Freedom Holding Corp., a multinational diversified financial services holding company with a presence through its subsidiaries in more than 20 countries, completed its fifth year on the NASDAQ Stock Market with impressive business growth, stock prices, and a market capitalization of over $6bn.

Freedom Holding Corp.'s stock price hit a new 52-week high of $101.01 during trading on Monday, October 14, 2024. The stock began trading at $98 per share. Subsequently, it reached the $100 threshold and soon after the $101 per share level by 10 a.m. With this share price, the company has achieved a significant milestone, with a market capitalization surpassing the $6bn mark. Although quotes declined slightly to $99.2 at the market closure on October 14, the company maintained a capitalization of over 6bn. Freedom Holding Corp.'s last 52-week high ($99.77 per share) was reached earlier this month, on October 9, 2024.

This time Freedom Holding Corp. is following the market up. The Nasdaq opened higher on October 14, with investors preparing for a week of corporate earnings and crucial economic data releases. At the same time, the company's five-year track record alone gives investors reason for optimism, the company says.

Freedom Holding Corp.'s common shares have been traded under the symbol FRHC on the Nasdaq Capital Market since October 15, 2019. The total gain in the shares’ price over five years is more than 700% ($14 per share in 2019 vs. around $99 -100 now), they've risen seven-fold, which provides a good return and optimistic perspectives for long-term holders.

The group’s strong performance is garnering it market recognition. On November 30, MSCI US will add Freedom Holding Corp. to two indexes: MSCI US Small Cap 1750, and MSCI US Investable Market 2500. MSCI US Small Cap 1750 tracks the performance of the small cap market segment. MSCI US Investable Market Index is designed to track the performance of the large, mid- and small-capitalization segments of the US market. In October 2024, the Astana International Exchange included stocks in the AIX Qazaq Index with a maximum weighting of 15%, which corresponds to the weighting of blue-chip stocks.

The AIXQI was launched in the summer of 2021 as a benchmark to track the returns of the most liquid stocks on the Kazakh market.

Over five years the group demonstrated impressive results. Revenue for the twelve months ended March 31, or fiscal 2024, was $1,6bn, compared to $74,3mn as of March 31, 2019. Freedom Holding managed to increase its earnings per share (EPS) significantly. Basic and diluted EPS in fiscal 2024 grew to $6.37 and $6.33 vs $0.12 respectively for the year ended March 31, 2019. Total assets were $8.3bn as of March 31, 2024. This compares to $425mn five-years ago.

In 2019, the company served over 100,000 client accounts across 70+ branch offices in seven countries. During this period, the group consolidated a few financial brokers and a bank. It owned an online stock shop and a mobile trading and account management platform, TraderNet. The company conducted retail financial brokerage, investment counselling, securities trading, investment banking, and underwriting services through its operating subsidiaries.

As of March 31, the total number of brokerage customers has grown to approximately 530,000. The group's current business is a fintech ecosystem. In addition to its historical brokerage investment banking operations, the group now offers retail banking and insurance services. Its product range also includes a growing list of popular ancillary services, that contributes to the growth of the group's customer base. These include online grocery, travel, and entertainment services, additional regional retail offerings, and planned telecommunications and media service offerings. To access this variety of services, customers can use SuperApp, a one-stop shop, as of April of this year.

Through its subsidiaries, Freedom Holding Corp. employs more than 6,000 people. Five years ago, the headcount was six times less, at approximately 1,000 professionals. “Our investments in people, systems, and the expansion of our fintech ecosystem continue to bear fruit”, says Timur Turlov, the Company's founder and chief executive officer.

The company’s plans include organic growth objectives, as well as potential acquisitions for additional international expansion. “It has been an amazing five years, and I am grateful to the entire team and our customers. And we're just getting started! We are going to take a really big leap, Turlov continued.