Estonia-based global retail multi-asset broker Admirals has unveiled a restructuring plan to meet essential requirements and expand its global footprint. The plan involves merging its parent entities, Admiral Markets AS and Admirals Group US, with completion scheduled for the first half of 2024.

This restructuring initiative aligns with Admirals' goal to expand its geographic presence, considering the vast opportunities it has observed in recent years.

Through its subsidiaries, Admirals Group US has established a physical presence in 18 countries and serves clients in more than 145 countries. In line with this strategy, Admirals intends to terminate the operating license of its Estonian subsidiary, a move expected to take effect in the latter part of this year, potentially around August 2023.

It's worth noting that despite these changes, Admirals maintains its headquarters in Tallinn, Estonia, where it employs over 100 professionals. Additionally, the company's proprietary lending platform, MoneyZen, regulated by the Estonian Monetary Authority, is poised to enhance its presence in the country.

As part of this development, any remaining rights and obligations of the notes not repurchased by Admirals in the current offering will be transferred to Admirals Group US, which will be responsible for honoring the maturity terms of the bonds.