IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>Responding to an ASX price query after a 22.7% intraday fall, <a href="https://www.smartkarma.com/entities/ofx-group-ltd" target="_blank" data-smartkarma-citation="entities:8376:1" rel="noopener">OFX Group (OFX AU)</a> cited "<em>meaningful progress</em>" on the SID and is negotiating to extend Equals' exclusivity beyond 25 September.</li>
<li>Bulls cite OFX's denial of undisclosed news, SID progress, Equals' 2024 equity-financing precedent and the sell-off's low traded value as signs a binding offer will follow. </li>
<li>Bears argue stretched timelines and silence on financing signal Equals walking away or cutting the price. I estimate a deal break price range of A$0.40–0.50.</li>
</ul>


Responding to an ASX price query after a 22.7% intraday fall, OFX Group (OFX AU) cited "meaningful progress" on the SID and is negotiating to extend Equals' exclusivity beyond 25 September.
Bulls cite OFX's denial of undisclosed news, SID progress, Equals' 2024 equity-financing precedent and the sell-off's low traded value as signs a binding offer will follow. 
Bears argue stretched timelines and silence on financing signal Equals walking away or cutting the price. I estimate a deal break price range of A$0.40–0.50.


OFX Group (OFX AU): The ASX Response Says "On Track," The Market Says "Maybe Not"

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Sep 4th (reported today). The aggregated short interest was USD51.0bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in CAR, Cochlear, Predictive Discovery, Sonic Healthcare, Qantas Airways.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Sep 4th (reported today). The aggregated short interest was USD51.0bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in CAR, Cochlear, Predictive Discovery, Sonic Healthcare, Qantas Airways.


ASX Short Interest Weekly (Sep 4th): CAR, Cochlear, Predictive Discovery, Sonic Healthcare

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Aug 28th (reported today). The aggregated short interest was USD50.8bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Steadfast, Brambles, Worley, Transurban, Charter Hall.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Aug 28th (reported today). The aggregated short interest was USD50.8bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Steadfast, Brambles, Worley, Transurban, Charter Hall.


ASX Short Interest Weekly (Aug 28th): Steadfast, Brambles, Worley, Transurban, Charter Hall

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ofx-group-ltd" target="_blank" data-smartkarma-citation="entities:8376:1" rel="noopener">OFX Group (OFX AU)</a> has received a non-binding indicative proposal from Equals at A$1.00 per share, a 110.5% premium to the undisturbed price of A$0.475 (22 July).  </li>
<li>The Board has granted four weeks of exclusivity, which ends on 19 August, unless extended. The offer resulted from the Board’s strategic review. </li>
<li>Despite promising signs of a turnaround, shareholders are likely to be supportive, as there is little evidence that the Board’s turnaround strategy will deliver higher returns.    </li>
</ul>



OFX Group (OFX AU) has received a non-binding indicative proposal from Equals at A$1.00 per share, a 110.5% premium to the undisturbed price of A$0.475 (22 July).  
The Board has granted four weeks of exclusivity, which ends on 19 August, unless extended. The offer resulted from the Board’s strategic review. 
Despite promising signs of a turnaround, shareholders are likely to be supportive, as there is little evidence that the Board’s turnaround strategy will deliver higher returns.    


OFX Group (OFX AU): Equals NBIO at A$1.00

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Jul 3rd (reported today). The aggregated short interest was USD45.1bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in AGL Energy, National Australia Bank, Ampol, Transurban, James Hardie Industries.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jul 3rd (reported today). The aggregated short interest was USD45.1bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in AGL Energy, National Australia Bank, Ampol, Transurban, James Hardie Industries.


ASX Short Interest Weekly (Jul 3rd): AGL Energy, National Australia Bank, Ampol, Transurban

Australia

Tyro Payments provides transaction processes. The Company offers payment solutions such as bank account, loans, and security activities. Tyro Payments serves customers in Australia.

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Tyro Payments (TYR AU)

OFX Group (OFX AU): The ASX Response Says "On Track," The Market Says "Maybe Not"

OFX cited SID progress and exclusivity-extension talks after a 22.7% fall; bulls expect a binding offer, bears fear Equals walks or cuts price. My...

Arun George

ASX Short Interest Weekly (Sep 4th): CAR, Cochlear, Predictive Discovery, Sonic Healthcare

We analyzed ASX short interest report for the past week and highlight short interest changes in CAR, Cochlear, Predictive Discovery, Sonic...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Aug 28th): Steadfast, Brambles, Worley, Transurban, Charter Hall

We analyzed ASX short interest report for the past week and highlight short interest changes in Steadfast, Brambles, Worley, Transurban, Charter Hall.

Ke Yan, CFA, FRM

OFX Group (OFX AU): Equals NBIO at A$1.00

Despite promising signs of a turnaround, shareholders are likely to be supportive, as there is little evidence that the Board’s turnaround strategy...

Arun George

ASX Short Interest Weekly (Jul 3rd): AGL Energy, National Australia Bank, Ampol, Transurban

We analyzed ASX short interest report for the past week and highlight short interest changes in AGL Energy, National Australia Bank, Ampol,...

Ke Yan, CFA, FRM

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52-week Range

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