Woodbrook Group, the Cyprus-based financial advisory firm, has confirmed plans for a reverse initial public offering merger with a company in the US, as it prepares to qualify for listing on the Nasdaq stock exchange.
Woodbrook, under partnership with Inter-M Traders Ltd and/or its affiliates headed by Demetri Michalakis and his team, has purchased the as-yet-unnamed company in the US as it prepares an RPO in advance of preparing for qualification for listing on the NASDAQ Exchange when practicable.
Michael Doherty, the 45-year-old Irishman who heads Woodbrook, will be CEO and President of the newly-restructured entity. He is joined by existing senior Woodbrook executives: Senan McGonigle has been appointed COO; Maria Milaj becomes the new CCO; Christina Doherty has been appointed director of IT and marketing.
Through an international network of offices, Woodbrook provides a range of financial and corporate services. It specialises in comprehensive financial planning, investment consultancy services, wealth planning, trust and trustee services, company formation and administration, cross-border structuring, domiciliation, taxation, accounting and many others, and assists with audit and legal services.
Following a year of expansion and mergers, in line with the company's strategic growth forecast, Doherty said his goal is to make Woodbrook one of the top five financial brokerages and corporate services companies in the world.
Doherty said today: "It is a great honour for us to get listed on the Nasdaq, the world's most preeminent and prestigious exchange. Over the past few years we've worked hard to achieve this milestone.
"This will enable us to grow as an organization and expand in new markets without compromising on our integrity and the bespoke services we provide to our clients."
Woodbrook is regulated by the Cyprus Securities and Exchange Commissioner (CySEC). It holds a MiFID II investment license passported through the EEA along with IMD insurance mediation licenses through ICCS and IHK.
The company has a target to reach €20bn of assets under management by 2022.
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