Iran's South Khorasan issues first Spanish mining investment licence
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Freedom Yatirim Menkul Degerler A.S., a subsidiary of Kazakhstan’s Freedom Holding (Nasdaq/FRHC), has received an operating license from Turkey’s capital markets board (SPK), FRHC said on August 19.
Freedom Yatirimm has become the first broadly authorized foreign brokerage firm to receive such a license in Turkey since 1992.
FRHC operates through more than 200 offices in over 20 countries across North America, Europe and Asia. According to its latest financial statements filed with the U.S. Securities and Exchange Commission (SEC), the company’s total assets stood at $14bn at end-June. Brokerage remains one of its core business lines, accounting for approximately 39% of total net revenue.
Freedom Yatirim has also completed its integration with Borsa Istanbul, giving a total of 870,000 clients across the group’s international brokerage network access to investment opportunities in the Turkish market.
In July, FRHC completed the acquisition of a 99.32% stake in Turkish Bank A.S. through its local subsidiary Freedom Finansal Hizmetler A.S. Following the acquisition, the bank’s name was changed to Freedom Bank A.S.
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