Key Highlights

• FRHC shares rose approximately 6.49 percent to $169.48 intraday, up from a prior close of $159.15.

• Subsidiary Freedom Yatirim Menkul Degerler received an operating license from Turkiye's Capital Markets Board.

• The license marks the first time a broadly authorized foreign brokerage has been licensed in Turkiye since 1992.

• The company's total Assets stood at $14 billion as of June 30, 2026, with brokerage representing about 39 percent of net revenue.

Rare Regulatory Milestone Drives the Move

Freedom Holding Corp. (NASDAQ:FRHC) shares rose approximately 6.49 percent to $169.48 intraday, up from a prior close of $159.15, following news that subsidiary Freedom Yatirim Menkul Degerler A.S. received an operating license from Turkiye's Capital Markets Board, becoming the first broadly authorized foreign brokerage firm licensed in the country since 1992. Investors appear to be reassessing the company's growth trajectory today after an initial muted reaction to the news a day earlier.

Freedom Holding Corp. is an international financial technology group providing brokerage, banking, insurance, investment banking, and payment solutions across roughly 22 countries in Central Asia, Europe, the U.S., and the Middle East and Caucasus regions, with its offerings spanning retail and corporate securities brokerage, market making, investment research, margin lending, retail and commercial banking, insurance products, and capital markets advisory including IPOs and Debt issuance.

Building a Turkish Financial Ecosystem

The new license supports the company's broader strategy to grow its brokerage Business and international capital markets infrastructure in Turkiye, with Freedom Yatirim planning to use the company's proprietary TraderNet trading platform to build two-way access between Turkish and international capital markets. The subsidiary has also completed integration with Borsa Istanbul, giving the group's international brokerage network of more than 870,000 client accounts access to Turkish market investment opportunities.

The company recently completed Acquisition of a majority stake in Turkish Bank A.S., subsequently renamed Freedom Bank A.S., with plans for Freedom Bank and Freedom Yatirim to form the core of an integrated digital financial ecosystem in the country, similar to the company's existing Freedom SuperApp model in Kazakhstan.

What Investors May Watch Next

Market participants are likely to watch for the launch of full-scale brokerage operations in Turkiye as the subsidiary completes system testing and operational readiness. Continued expansion of the company's digital ecosystem, combining banking and investment services, and how the new market contributes to overall brokerage revenue, are additional factors that may shape sentiment going forward.

Conclusion

Freedom Holding Corp. shares rose approximately 6.49 percent to $169.48 intraday, as investors reassessed the company's growth prospects following its subsidiary's rare Turkish brokerage license. Whether the advance holds may depend on the pace of the company's operational launch and progress building out its broader Turkish financial ecosystem.