InvestSMART

OFX Group Limited (ASX:OFX)

ALERT: Price-sensitive ASX Announcement for OFX
Current share price for OFX : $0.770 0.295 (62.11%)+
Announcement
Release
23 Jul 2026 8:28AM
Price at Release
$0.475
Full Release
download
Summary
OFX Group Limited has announced a strategic acquisition by Equals, with a 100% cash offer for OFX shares, valuing the company significantly above its prior share price. The offer, contingent on certain conditions such as financing and no superior proposals emerging, has the backing of OFX's Board. As part of its 1Q27 trading update, OFX reports positive growth in its Corporate and Enterprise segments, with notable increases in non-FX revenue and client engagement through its New Client Platform.
Key Points
  • OFX Group Limited has entered into a Transaction Process Deed with Equals for an all-cash acquisition.
  • Equals will acquire 100% of the shares in OFX for $1.00 per share, with potential adjustments based on cash balance.
  • The acquisition implies a 108% premium over OFX’s share price before the Strategic Review.
  • OFX's Board recommends shareholders vote in favor of the scheme if certain conditions are met.
  • The financial advisor for the transaction is Goldman Sachs, and the legal advisor is Allens.
  • OFX's 1Q27 trading update shows growth in multi-product adoption and non-FX revenue.
  • OFX's New Client Platform is live in all markets, contributing to increased client engagement.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.