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

Pacific Current Group (PAC AU): Regal Partners’ Attractive Indicative Offer

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Global Equity Research Ltd

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Event-Driven

<ul>
<li>In response to an <a href="https://www.afr.com/street-talk/secret-suitor-roc-slams-pacific-current-group-s-silence-on-hidden-bid-20260906-p60uuc" target="_blank" rel="noopener">AFR article</a>, <a href="https://www.smartkarma.com/entities/treasury-group-ltd" target="_blank" data-smartkarma-citation="entities:14625:1" rel="noopener">Pacific Current (PAC AU)</a> belatedly disclosed that it rejected a non-binding proposal from Roc Partners in May 2026. </li>
<li>PAC is currently undergoing a strategic review to consider River Capital’s proposal alongside a sale or delisting/liquidation of holdings.</li>
<li>Both offers are unattractive. PAC is a cash box (A$9.23 per share) with the boutique portfolio providing option value (boutiques valued at FV P/NAV of 0.27x at last close).</li>
</ul>


In response to an AFR article, Pacific Current (PAC AU) belatedly disclosed that it rejected a non-binding proposal from Roc Partners in May 2026. 
PAC is currently undergoing a strategic review to consider River Capital’s proposal alongside a sale or delisting/liquidation of holdings.
Both offers are unattractive. PAC is a cash box (A$9.23 per share) with the boutique portfolio providing option value (boutiques valued at FV P/NAV of 0.27x at last close).


Pacific Current (PAC AU): A Strategic Review as Roc Partners Emerges as a Jilted Suitor