BlackRock Increases Stake in Freedom Holding Corp., Becoming Second-Largest Shareholder

BlackRock, Inc. has elevated its position in Freedom Holding Corp. (NASDAQ: FRHC), acquiring an additional 443,965 shares to bring its total stake to 520,565 shares, or 0.85% of the company. The $89 million investment solidifies BlackRock as the second-largest shareholder after founder and CEO Timur Turlov.

The MOVE signals growing institutional confidence in Freedom Holding, a global financial services firm operating across 22 countries. State Street Corp., Grace Partners of DuPage L.P., and Geode Capital Management also maintain positions in the company.

"This endorsement from premier asset managers validates our international growth strategy," said Turlov. BlackRock's expansion of its position coincides with the firm's continued dominance in asset management, overseeing $12.5 trillion globally through vehicles like iShares ETFs and the Aladdin platform.