Freedom Holding has not ruled out the possibility of a secondary listing in Hong Kong

Kazakhstan-based financial company Freedom Holding is considering a secondary public offering in Hong Kong to finance its expansion plans. This was reported by its CEO Timur Turlov in an interview with Reuters.

Since 2019, Freedom Holding's securities have been listed on the American exchange Nasdaq: "This is our main platform," Turlov noted, emphasizing that Freedom is "fully satisfied with the listing." However, in order to expand beyond the Central Asian markets, Freedom, according to Turlov, "is considering a secondary listing in Hong Kong and has not yet completely discounted such a possibility."

In addition, Turlov said Freedom, which is based primarily in Kazakhstan but operates in several Central Asian countries and received a banking license in Georgia last year, aims to promote the integration of economies across a wide swath of Eurasia, from Turkey to Mongolia. Establishing or acquiring banks in new jurisdictions is part of that strategy, he said.

"Yes, we are considering buying a bank in Turkey. We cannot disclose the details of the deal yet, but we expect that it may be finalized in the coming months," Turlov said.

Freedom also plans to either acquire a small bank or set up its own in "one of the classic countries of continental Europe," the company's CEO said. He did not specify which country he was referring to.

In addition, Turlov added, Freedom also expects to open a branch of its existing business in Pakistan.

Freedom Holding securities added more than 6% at the close of trading on February 6.

Last week, Turlov also said he was considering selling Freedom bonds in dollars and yuan. The money, according to the businessman, will later be used to expand the business, including the development of telecom infrastructure and data centers to sell capacity to cloud giants like Amazon and Microsoft.

This article was AI-translated and verified by a human editor