October 2, 2019 / 12:47 PM / 6 months ago

CIS-based firm Freedom Holding plans NASDAQ listing

FILE PHOTO: A logo is seen on a window outside of the Nasdaq MarketSite building in New York's Times Square, August 22, 2013. REUTERS/Lucas Jackson/File Photo

MOSCOW (Reuters) - Freedom Holding Corp, a U.S. holding companies with subsidiaries that provide services to financial markets in Eastern Europe and Central Asia, has gained approval to list on New York’s NASDAQ Capital Markets exchange, it said on Wednesday.

The company said it expects its shares to start trading on NASDAQ from Oct. 15, adding that the move will help it to widen its client base.

NASDAQ did not respond immediately to a request for comment.

Freedom Finance, a unit of Freedom Holding Corp with headquarters in Moscow, focuses mainly on providing access to the major stock exchanges in the United States.

It also provides access to the Moscow and St Petersburg Exchanges, offering brokerage and trust management services.

Freedom Holding’s capitalization stood at around $700 million at the end of September, the company said.

Reporting by Andrey Ostroukh and Olga Popova; Editing by David Goodman

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