BlackRock has increased its stake in Freedom Holding Corp. to 0.85%, becoming the company's second-largest shareholder with an investment of approximately $89 million.

Information on the Target

Freedom Holding Corp. (NASDAQ: FRHC) is a global financial services and technology company that operates in 22 countries, providing a wide range of financial solutions. With its principal executive office located in New York City, the company has established a significant presence in markets such as Kazakhstan, the United States, Cyprus, Poland, Spain, Uzbekistan, and Armenia.

In Kazakhstan, Freedom Holding is focusing on developing a comprehensive financial and digital ecosystem, which encompasses several entities including Freedom Bank, Freedom Broker, and two insurance companies, Freedom Life and Freedom Insurance. Additionally, the organization has expanded into lifestyle services with platforms like Arbuz.kz, Freedom Ticketon, and Aviata, reflecting its commitment to diversification and growth.

Industry Overview

The financial services industry in Kazakhstan is burgeoning, characterized by increased foreign investment and the modernization of financial technologies. This growt