Admiral Markets AS has started a final effort to buy backits remaining bonds as it prepares to leave the Nasdaq Tallinn Stock Exchange.The move follows the company’s decision to give up its Estonian investment firmlicense and shift operations elsewhere in Europe.Final Bond Offer DetailsThe broker noted on Thursday that it is offering torepurchase up to 8,476 Tier 2 bonds issued in 2017. The offer runs for around a month and is open only to current bondholders.Admiral Markets has set the price at €101.02 per bond. Thisincludes the €100 nominal value, a €1 premium, and €0.02 in accrued interest.The total nominal value of the remaining bonds is €847,600.Investors must submit sell orders through their custodians,with the firm noting that it may accept fewer bonds than offered but aims tobuy back the full amount.Continue reading: Admirals Drops Estonia License but Keeps Estonian Clients via Cyprus EntityThe buyback forms part of a wider restructuring. AdmiralMarkets is also “exploring the possibility” to terminate trading of the Bondson the Nasdaq Tallinn Stock Exchange after completing the offer. The companycited low trading activity and the small remaining volume as key reasons.Delisting and RestructuringThe restructuring also includes the surrender of itsEstonian license. The financial regulator, Finantsinspektsioon, withdrew the licensein April after the company filed an application.Admiral Markets has shifted its European operations toAdmirals Europe, a Cyprus-based entity regulated by the local authority.This change consolidates its regulated business under one jurisdiction.The company already reduced its bond exposure earlier thisyear. In April, it repurchased 4,999 bonds from 99 investors at €103.21 perbond. The current offer aims to retire the remaining balance and complete theprocess.The firm’s step to give up Estonian license follows itscontinued effort to reduce the number of jurisdictions where it holds licenses.Admirals sold its Australian unit to offshore broker PU Prime, giving the buyeran Australian Financial Services license. Admirals announced the sale wouldsupport profitability and streamline operations.Admirals Cuts Global Footprint as Losses WidenAdmirals later cancelled its UAE license of its subsidiary afterthe Financial Services Regulatory Authority approved the request effective lastNovember. The license allowed the firm to deal in investments as principal. Thecompany said the move forms part of a broader strategy to focus onhigher-growth regions. The reduced operations globally have taken a hit on the brokersfinancials. It posted a net loss of €5.9 million for the first half of lastyear as trading activity declined across its core European markets. Net tradingincome dropped to €13.3 million from €22.0 million a year earlier, whileoperating expenses fell 20% to €18.3 million. The company recorded 23,190 active clients during the periodand resumed onboarding new EU clients after a temporary pause linked toregulatory compliance measures. This article was written by Jared Kirui at www.financemagnates.com.