04:26 AM EST, 01/14/2025 (MT Newswires) -- Freedom Holding ( FRHC ) said Tuesday it is launching a new brokerage firm in Turkey.

The Capital Markets Board of Turkey has decided to grant a license to the company's Freedom Financial Services subsidiary to establish the new brokerage company, Freedom Yatirim Menkul Degerler JSC.

The company said it expects to allocate 20% to 30% of its annual profit for expansion in Turkey.