IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

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

OFX Group (OFX AU): Synthetic Expert Call Transcript (23 Jul 2026)

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"