Estonia-based Admirals (previously Admiral Markets), a forex and contracts for differences (CFDs) broker, is selling its Australian subsidiary to “optimise its geographic focus.” The broker revealed that it had already entered into an agreement with a “non-related party” for the sale.
The Australian entity holds an operational licence from the Australian Securities and Investments Commission (ASIC), obtained in 2011. This licence enables it to offer retail trading services in the country.
Although the announcement did not provide many details about the potential sale of the Australian unit, it highlighted that the sale is expected to positively contribute to the group’s net profit and “streamline its operations in alignment with its core strategy.”
“This strategic move underscores Admirals Group AS’s commitment to delivering value by concentrating resources in key regions where it sees the strongest potential for growth and operational efficiency,” the official announcement noted.
Estonia-based Admirals (previously Admiral Markets), a forex and contracts for differences (CFDs) broker, is selling its Australian subsidiary to “optimise its geographic focus.” The broker revealed that it had already entered into an agreement with a “non-related party” for the sale.
The Australian entity holds an operational licence from the Australian Securities and Investments Commission (ASIC), obtained in 2011. This licence enables it to offer retail trading services in the country.
Although the announcement did not provide many details about the potential sale of the Australian unit, it highlighted that the sale is expected to positively contribute to the group’s net profit and “streamline its operations in alignment with its core strategy.”
“This strategic move underscores Admirals Group AS’s commitment to delivering value by concentrating resources in key regions where it sees the strongest potential for growth and operational efficiency,” the official announcement noted.
This post is originally published on FINANCEMAGNATES.
